ECONOMY


Realization of Azerbaijan-Iran-Russia energy project demands some finance

Baku, March 1, AZERTAC

Azerbaijan, Iran and Russia work on establishing energy corridor to create the North-South energy corridor among the three neighbor countries. Realization of the project demands certain finance.

This was stated by Azerbaijan's Energy Minister Natig Aliyev.

“The issue is being discussed on the level of working groups where the Energy Ministry and Azerenergy OSC are represented”, the Minister underlined.

He told journalists that the removal of the international sanctions from Iran will play a significant role in the development of Baku's relations with Tehran.

“The North-South corridor is being established not only in the transport, but also in the energy sector. It envisages the export of electricity from Russia to Azerbaijan and further to Iran. A special working group has been established. The energy ministers of three countries are working on this issue," he said.

In due time, the Russian side confirmed “the interest in continuing to examine the issue of linking the energy systems of Russia, Iran and Azerbaijan, and considered it reasonable to resume the tripartite working group”.

Azerbaijan also has confirmed the interest and readiness for resuming the meetings as part of the tripartite working group.

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