Turkic States mark new era in energy cooperation with focus on joint investments

Energy ministers from the Turkic States have agreed to expand cooperation on key oil, gas, and green energy projects at an event hosted by Türkiye this week. It's a significant move towards regional energy collaboration.

The meeting marked a new phase in Turkic energy cooperation, with Azerbaijan emphasising the growing importance of joint investments and crucial export routes such as the Baku-Tbilisi-Ceyhan (BTC) pipeline.

This pipeline is a vital export route that continues to play a central role in transporting oil and gas to markets in Europe and beyond.

The ministers also highlighted rising gas flows to Türkiye and Europe as a key development in the region’s energy infrastructure.

Azerbaijan’s Minister of Energy, Parviz Shahbazov, outlined the tremendous progress made in Turkic energy relations, particularly in the area of joint investments. He emphasised that energy cooperation within the Turkic States has entered a new phase, underpinned by significant financial commitments and strategic projects.

The ministers also focused on expanding cooperation in renewable energy, digital transformation, and the development of a "Green Energy Corridor." This corridor aims to connect Central Asia, Azerbaijan, and Türkiye, fostering greater integration of green energy solutions and supporting the transition to more sustainable energy sources across the region.

Shahbazov highlighted the impressive trade turnover between the Turkic States, with last year’s trade exceeding $7.3 billion. Notably, around 80% of their joint investment portfolio, which surpasses $20 billion, is concentrated in the energy sector. 

"Joint investment funds and numerous projects, especially our collaborations in the energy sector, make a significant contribution to economic growth," said Shahbazov.

The group say the push for closer cooperation on renewable energy and digital transformation aligns with global trends toward a more sustainable energy future. The Green Energy Corridor, in particular, is expected to help the Turkic States become key players in the global green energy landscape, leveraging their rich natural resources while minimising the environmental impact.

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