10:11 GMT +325 May 2018
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    MOSCOW, FEBRUARY 4. /RIA NOVOSTI / -- Russia and Azerbaijan have a great potential for building up cooperation in the fuel and energy sphere, Russian Energy Minister Igor Yusufov has said on Wednesday. To him, such possibilities are present in every sector of the fuel-energy complex - oil, gas and electricity.

    Russia is ready to participate on the competition basis in projects to be offered by Azerbaijan to foreign investors - primarily, Caspian projects, the building of facilities in the electricity and manufacturing industries. In turn, Moscow will welcome the participation of Azeri companies in oil projects in Russia and, on a longer perspective, in the gas and electricity spheres, Yusufov said.

    He also spoke of the possibility of cooperation between Russian and Azeri companies in third countries, above all in the Near East Arab states. True, it is in "the long-term plans", he added.

    The possibility of Russian oil shipments to Iran via Azerbaijan is now in consideration, Yusufov said. Also, the project on Russian and Azeri electricity supply to power-hungry regions in the north of Iran is "quite promising", the energy minister said.

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