Azerbaijan, Israel Enhance Economic Ties through Gas Exploration Agreement

Azerbaijan's Minister of Economy, Mikayil Jabbarov, is currently on a working visit to Israel, where he met with Israeli President Isaac Herzog to discuss strengthening economic ties and energy cooperation between the two nations. During the visit, Jabbarov announced plans to sign agreements that would allow Azerbaijan's state oil company SOCAR to explore for natural gas in Israeli waters, marking a significant step in their strategic alliance. The discussions also highlighted the directions for bilateral relations set by both countries' leadership and aimed at further enhancing economic collaboration. This visit follows a recent meeting between Israeli Prime Minister Benjamin Netanyahu and Azerbaijani presidential aide Hikmet Hajiyev, reflecting a commitment to bolstering relations amidst regional challenges. The energy cooperation is particularly notable as SOCAR expands its presence in Israeli gas fields, having previously acquired a stake in the Tamar gas field. The ongoing initiatives underscore the growing partnership between Azerbaijan and Israel in energy and economic sectors.