Baku: Plans to increase U.S. investments in Azerbaijan's energy sector and expand participation in the country's energy infrastructure projects were discussed during the first Economic Dialogue held in Baku, U.S. Assistant Secretary of State for Economic, Energy and Business Affairs Caleb Orr said while answering journalists' questions, APA reports.

According to Azeri-Press News Agency, the purpose of the economic dialogue is to bring together the parties' economic proposals, develop a plan for their implementation, and achieve tangible progress. Orr emphasized the intention to make concrete investments in the energy sector, with a focus on shared economic prosperity as a foundation for peace.

The U.S. has existing investments in Azerbaijan's energy sector and aims to expand on them. Orr mentioned meetings with ExxonMobil during Baku Energy Week, noting the company's MoU for new exploration efforts in Azerbaijan. ExxonMobil is involved in key infrastructure projects for transit, and Chevron recently signed a new study agreement at Baku Energy Week, with U.S. support for these proposals.

Orr highlighted the U.S. interest in increasing involvement in Azerbaijan's energy and pipeline infrastructure projects. He referenced the Trump Route for Peace and Prosperity as a pathway to enhance Azerbaijan's role as a central node for energy transit to Europe and beyond.

The U.S. official described Azerbaijan as a significant global energy producer and expressed optimism about the continued expansion of bilateral cooperation. He noted the mutual benefits of the relationship and anticipated significant growth in the coming years.