Javad Owji and Shahin Mustafayev met on Wednesday and talked about current issues including an increase in Turkmenistan gas swap to Azerbaijan as well as cooperation in the development of hydrocarbon resources in the Caspian Sea.

Given Iranian Ministry of Petroleum’s position in Iran-Russia Joint Trade and Economic Cooperation Commission, the two sides negotiated some key areas such as activating and removing obstacles to the North-South Transport Corridor and to trade transactions among Iran, Azerbaijan and Russia, facilitating banking relations and using national currencies.

Owji is in Azerbaijan to participate in Baku Energy Week and hold talks with officials attending the three-day international event.

The events are held on June 1-3, 2022 with the support of the Ministry of Energy of the Republic of Azerbaijan and the State Oil Company of the Republic of Azerbaijan (SOCAR). The Caspian Oil and Gas Exhibition is the first exhibition held since the independence of the Republic of Azerbaijan annually in which over 250 companies of the world will take part.

Iranian Petroleum Minister is to deliver a speech on the first day of this international event and hold bilateral or multilateral talks with ministers and senior officials on the sidelines of it.

Tehran and Baku have promoted their relations during Iran’s 13th administration whose policy is focused on increasing regional cooperation. In this regard, Turkmenistan gas swap contract for swapping Turkmen gas to Azerbaijan via Iran’s territory was signed on November 28, 2021 and launched on January 2, 2022. Upon the contract, Iran delivers 1.5-2 billion cubic meters of Turkmen gas to Azerbaijan per year.

There have been ups and downs in Iran-Azerbaijan relations throughout the history but it is clear that the two countries have common interests in Shah Deniz gas field and in the Caspian Sea. Also, the sustainable gas supply to Nakhichevan and Turkmenistan gas swap to Azerbaijan are currently underway. Iran and Azerbaijan are members of the OPEC Plus (OPEC and Non-OPEC coalition) and the Gas Exporting Countries Forum (GECF).

Seniors officials of the two countries have held several talks and meetings during Iran’s 13th administration and emphasized expansion of bilateral ties in different fields. They believe the two countries have more potential for further cooperation.

It should be noted that Deputy Prime Minister of the Republic of Azerbaijan, Shahin Mustafayev, has recently traveled to Tehran and met Iranian Petroleum Minister at the central building of the Ministry of Petroleum.