Updated | Energy minister signs MOU with Azeri counterpart

The Ministry for Energy of Azerbaijan and the Ministry for Energy and Health of Malta signed a Memorandum of Understanding on strategic cooperation within the oil and gas sector. 

The main areas of the strategic cooperation will focus on oil and gas exploration, sourcing and logistics of petroleum products, trading in energy commodities in the Mediterranean region, development of new regional infrastructure, and innovative LNG services.

Business planning will commence and will involve the respective ministries and SOCAR.

The signing was presided over by Maltese prime minister Joseph Muscat and the Azeri prime minister Artur Rasi-zade.

Muscat met with Azeri president Ilham Aliyev in the Azeri capital of Baku earlier today.

During the meeting, diplomatic relations, political and economic ties between Azerbaijan and Malta were topics of discussion. Opportunities for investment, in the sectors of commerce, energy, transport and tourism, were also discussed.

Muscat said that Malta’s position within the Mediterranean and within Europe offered many opportunities in the region.

Aliyev said that political relationships should yield practical results, in both countries.

Muscat was accompanied on his visit by energy minister Konrad Mizzi and OPM Chief of Staff Keith Schembri.