Azerbaijan, UAE sign new cooperation agreement

The Ministry of Economy of Azerbaijan and the XRG, the investment platform of Abu Dhabi National Oil Company (ADNOC), have signed a new cooperation agreement, Azerbaijani Economy Minister Mikayil Jabbarov wrote on X, Report informs.

"As part of our working visit to the United Arab Emirates (UAE), together with my colleague Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the UAE, we signed a new cooperation agreement between the Ministry of Economy and XRG, the investment platform of ADNOC.

The agreement expands the existing partnership between SOCAR and XRG in the field of gas production, advancing collaboration aimed at diversifying energy supply and strengthening regional energy security.

This document carries strategic importance for deepening the economic ties between Azerbaijan and the UAE, attracting investments into Azerbaijan's energy infrastructure, diversifying revenue streams, and reinforcing the country's role as a reliable and forward-looking partner in the global energy landscape," reads the post.