They also mulled the prospects for the implementation of mutually beneficial joint projects in the abovementioned areas, which are meant to facilitate a sustainable economic development of the entire Caspian region.

During the meeting, Abdullayev underscored the sincere interest of SOCAR in establishing a full-scale cooperation with Turkmenistan - a reliable and promising partner, which has huge resources and economic potential.

“It was noted that year after year strengthening the existing constructive dialogue on bilateral and multilateral bases, the two neighboring countries will consolidate their efforts in the search for solutions to pressing problems of modernity, paying special attention to the strengthening of peace and the global system of universal security, including the energy security,” said the Turkmen government’s message.

The parties also expressed confidence in further deepening of the multifaceted interstate dialogue and consolidation of ancestral ties of friendship and brotherhood between the Turkmen and Azerbaijani peoples.

Turkmenistan is one of the key players in the energy market in Central Asia and the Caspian region and owns the world’s fourth-largest natural gas reserve.

Azerbaijan, an independent exporter of natural gas to Europe, is interested in providing a transit, which could bring additional revenues to the country.

Earlier it was reported that SOCAR is ready to offer Turkmenistan an infrastructure, a diversified system of oil and gas pipelines and other opportunities for the realization of projects in the oil and gas sector.

The construction of a 300-kilometer gas pipeline under the Caspian Sea to the coast of Azerbaijan is the optimal solution to deliver the Turkmen energy resources to the European market.

From Azerbaijan, the Turkmen hydrocarbons can be delivered to Turkey, which shares borders with the European countries.

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