The ink dried, and the “deal of the century” was done. In September 1994, Azerbaijan and a handful of international oil companies signed an agreement that ushered in decades of rapid growth for Azerbaijan’s energy and improved the energy security for North Atlantic Treaty Organization (NATO) member countries in Europe.
Azerbaijan quickly became one of the world’s most pivotal oil and gas exporters under the direction of the State Oil Company of the Azerbaijan Republic (SOCAR).
Azerbaijan’s Green Energy Push
The energy deals of this century tend not to attract the same attention. Increasingly, they unfold without the involvement or the glitz and glamour of the oil industry, but they are no less important.
One such energy deal was signed at the Conference of the Parties (COP) 29 last year in Azerbaijan. SOCAR and two of the Middle East’s most powerful energy companies, ACWA Power of Saudi Arabia and the United Arab…
