The governments of Azerbaijan and Algeria signed a memorandum on cooperation in the oil and gas sector. This was reported in the Ministry of Energy of the Republic.
The document was issued on November 29 during a visit to Algeria by Azerbaijani Energy Minister Parviz Shahbazov.
According to the memorandum, the parties will cooperate in the exploration and production of hydrocarbons onshore and offshore, the development of the petrochemical industry, marketing, transportation and distribution of energy products, as well as the supply of Azeri Light oil and other types of crude oil.
In addition to this, Azerbaijan and Algeria plan to establish cooperation in the implementation of green energy projects and research in the field of hydrogen transportation.
A joint working group will be created to ensure the implementation of the issues in the memorandum.
