Azerbaijan’s oil and gas trust is preparing to enter the UAE market and has plans to hold an investment forum in Abu Dhabi, reported Azerbaijani news website, news.az.
“The energy cooperation between Azerbaijan and UAE continues to develop.” Azerbaijan’s ambassador to the UAE Elkhan Gahramanov said.
“Azerbaijan has expressed its interest in energy projects implemented in UAE. We are currently taking definite steps in this direction,” he added.
He said that bilateral negotiations are being held to open the office of Azerbaijan’s state oil company, Neftegazstroy in Abu Dhabi.
“During the bilateral meetings, the UAE representatives voiced interest in investing in our country and urged Azerbaijan to cooperate in this direction. We are currently taking steps to organise the Azerbaijan Investment Forum in Abu Dhabi,” Â Gahramanov said.
In May the State Oil Company of Azerbaijan Republic (SOCAR) and Aurora Progress, the Swiss based commodity trading house partnered to develop the oil storage facility at the new 641,000m3 oil products storage terminal being built in the Port of Fujairah.
