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. Both sides recognize the transformation occurring in the Maltese Energy sector and the creation of new regional opportunities which can be serviced from Malta.

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 the Maltese Prime Minister, Joseph Muscat and the Azerbaijan Prime Minister, Artur Rasi-zade.