Baku (Turkey News) During Energy Week and the first Azerbaijan–US Economic Dialogue, Azerbaijan’s Ministry of Economy and the State Oil Company (SOCAR) signed several important agreements and memorandums of understanding with leading companies and institutions from the United States, Türkiye, Serbia, San Marino, and France, with a total value of $7.5 billion.
According to the Azerbaijani news agency, the agreements cover sectors including economy, energy, investment, and digital technology, transforming cooperation between the two countries beyond traditional energy partnership into a modern and multi-dimensional economic partnership.
The protocol of the first Azerbaijan–US Economic Dialogue and this major financial package are being seen as an important step in shifting bilateral relations into a structured, high-level, and institutional framework.
The agreements also include participation from global financial and investment institutions and energy companies, including JPMorgan, Apollo Global Management, Chevron, and Comstock Resources. Their financial and technical cooperation with SOCAR and the TANAP project is being viewed as a sign of confidence in Azerbaijan’s economy.
One key document is the “Framework Agreement on the Production and Supply Security of Critical Minerals and Rare Earth Elements” between Azerbaijan and the United States. It was signed by Azerbaijan’s Minister of Economy Mikayil Jabbarov and US Assistant Secretary of State for Economic, Energy, and Business Affairs Caleb Orr.
In addition, SOCAR, TotalEnergies, XRG, and BOTAS signed a long-term gas sales agreement for natural gas from the “Absheron” gas and condensate field, under which 50 percent of production (approximately 30 billion cubic meters) will be supplied to Türkiye over the next 15 years.
The agreement was signed by SOCAR President Rovshan Najaf, TotalEnergies Senior Vice President Martina Opizzi, XRG President of International Gas Mohammed Al Aryani, and BOTAS Director Abdul Wahid Fidan.
This development is being described as an important milestone in regional energy cooperation, investment growth, and international economic relations.
