Tashkent: Diplomatic relations between Azerbaijan and Uzbekistan have developed rapidly in recent years, and joint projects in the energy sector are a priority, said Khayud Ibrahimov, head of the Uzbekistan Institute of Energy Diplomacy and Geopolitics, as reported by APA’s correspondent dispatched to Tashkent. He highlighted that the development of these relations is evident through high-level official meetings and mutual visits, indicating not only diplomatic but also friendly relations between the two countries.

According to Azeri-Press news agency, the head of the institute noted that bilateral cooperation in the energy sector is expanding further. He pointed out that the joint project on the development of deposits in the Ustyurt region of Uzbekistan is particularly significant. Within this framework, Uzbekistan and Azerbaijan will establish a joint venture to conduct geological surveys, with the project cost estimated at $70 million. Additionally, joint ventures in chemicals are also operational between the two countries. Furthermore, a memorandum on “green” energy transport has been signed between Uzbekistan, Azerbaijan, and Kazakhstan. This project entails that “green” energy produced in Uzbekistan and Kazakhstan will be delivered to Azerbaijan via the Caspian Sea and subsequently sold to the European Union.

He emphasized that the prospects of the ‘green’ energy corridor project are very broad. The growing demand for electricity in Europe and the increase in production capacity in Uzbekistan and Kazakhstan through renewable energy sources heighten the project’s significance. The development of energy and logistics corridors will play a crucial role in the project’s success.

Additionally, the number of participating countries in the project is increasing. Bulgaria has already joined the Black Sea project, and it is anticipated that more countries will join the ‘green’ energy corridor project in the near future.