10:49 - 19.06.2026
June 19, Fineko/abc.az. The United Kingdom is the largest foreign investor in Azerbaijan's economy, with total investments exceeding $39.9 billion, of which $37 billion has been directed to the energy sector.
ABC.AZ informs that Azerbaijan's Deputy Energy Minister Orkhan Zeynalov said this at an event marking the birthday of King Charles III.
He added that cooperation in the energy sector holds a special place in relations between the two countries: "The foundation of this cooperation was laid with the signing of the Contract of the Century in 1994, which marked the beginning of a fruitful partnership with BP. Over the past three decades, this cooperation has delivered significant benefits for both countries and the region as a whole."
Zeynalov added that major projects such as Azeri-Chirag-Gunashli (ACG) and Shah Deniz continue to play an important role in ensuring global energy security.
"At the beginning of this month, a ceremony was held to mark the start of natural gas production from the deep-lying reservoirs of the ACG field. This represents a new historic stage in the development of the field. The Deep Gas project is of strategic importance for increasing Azerbaijan's gas production and export potential. The gas reserves being developed under this project will create conditions for further foreign investment in Azerbaijan in the years ahead," the deputy minister stressed.
According to Zeynalov, the strategic partnership between the two countries is expanding and now includes initiatives in green energy and decarbonization. The 240 MW Shafag solar power plant, scheduled to be commissioned in Jabrayil in 2027, as well as its future contribution to the decarbonization of the Sangachal Terminal, will clearly demonstrate the integration of hydrocarbon and renewable energy sources.
Zeynalov also emphasized that, beyond the energy sector, cooperation with the United Kingdom has evolved into a multifaceted partnership encompassing trade, investment, education, healthcare, and other areas.
