Category: Azer News

The Azerbaijani Foreign Ministry has welcomed the announcement of the Comprehensive Plan for the Resolution of the Gaza Conflict, recently put forward by US President Donald Trump, Azernews reports.

Baku views the initiative as an important step toward establishing lasting peace in the region.

Ilham Aliyev, President of the Republic of Azerbaijan, and Sergio Mattarella, President of the Italian Republic, delivered press statements on September 30, Azernews reports.

First, the President of Azerbaijan made his statement.

Statement

by President Ilham Aliyev

– Dear Mr. President.

Dear guests.

I once again sincerely welcome you to Azerbaijan.

This is President of Italy Mr. Mattarella’s second visit to Azerbaijan. The first official visit took place seven years ago. Today’s visit shows that Italian-Azerbaijani relations are developing very successfully and that we are true strategic partners.

Our meetings are frequent in nature. Last year, I was a guest of President Mattarella, and during the meeting, I invited him to pay another official visit to Azerbaijan. I am glad that he has accepted my invitation and is with us today.

There are two strategic partnership documents between us. The first document was signed in 2015. The second document – the Joint Declaration on Comprehensive Strategic Partnership – was signed five years ago. Over the years, our relations have developed very rapidly and cover various directions. Political relations are at the highest level. As I mentioned, we meet often. In the economic sphere, Italy is our top trade partner and our trade turnover is increasing by the year. Many important projects have been implemented in the energy sector. In particular, by exporting Azerbaijani oil and gas to Italy, we have been able to send a large amount of natural resources to world markets. At the same time, we have also contributed to the energy security of many countries.

Today, during our conversation with President Mattarella, we recalled his previous visit. At that time, the implementation of the TAP project was on the agenda. There were various problematic issues, and President Mattarella’s personal intervention in this issue after the visit as well as his efforts in regulating these issues, allowed the TAP project to be successfully implemented. Starting from 2020, Azerbaijani gas has been exported to Italy through this project. Today, Azerbaijan exports natural gas to 14 countries through the Southern Gas Corridor. Our scope is increasing year after year, and today Azerbaijan ranks first in the world in terms of the geographical scope of natural gas exported through pipelines. Azerbaijani oil ranks first in Italy’s energy balance and Azerbaijani gas ranks second. In other words, this cooperation is a sign of a strong partnership, and we have supported each other as reliable partners for many years. If it were not for these sincere relations, if it were not for mutual trust, the implementation of these projects would not have been possible.

I informed President Mattarella today that we are currently working with the European Union on the export of electricity. The preparation of a feasibility study for the construction of power lines is underway. It will probably be ready soon. Thus, the path opened by TAP and the Southern Gas Corridor today paves the way for larger projects. Electricity, including that to be transmitted from Central Asia to Azerbaijan and then to Europe across the Caspian Sea, will further enhance the scope of our cooperation.

Last time, when President Mattarella was on a visit to Azerbaijan, we jointly attended the opening of a large industrial enterprise built by Italian companies in Sumgayit. During this visit, tomorrow, we will celebrate the opening of the Italian-Azerbaijani University. In other words, this momentum, the expansion of these cooperation frameworks is primarily evidence of sincere relations. In other words, cooperation in the energy and industrial sectors has also paved the way for cooperation in the humanitarian sector. Hundreds of students are already studying at the Italian-Azerbaijani University, and this will be a new educational institution for us. Those already studying here will not only have good knowledge, but also, naturally, become ambassadors of Italy in Azerbaijan and of Azerbaijan in Italy. So this will further strengthen our friendship.

During today’s talks, we also discussed European Union-Azerbaijan relations. Italy has always supported the development of Azerbaijan’s relations with the European Union, and today we feel this. Positive steps have been taken in European Union-Azerbaijan relations recently. This naturally pleases us.

In short, our strategic partnership is manifested both in official documents and in life. I do believe that our experience can serve as an example for building relations between countries located far from each other.

Dear Mr. President, welcome to Azerbaijan once again.

x x x

Then, the Italian President spoke.

Statement

by President Sergio Mattarella

– I am grateful to Mr. President Ilham Aliyev for the invitation to visit Azerbaijan again. I am also grateful for the hospitality extended to me and to our delegation. There is great friendship, mutual and a well-established understanding between us, and the relations between Italy and Azerbaijan are developing. Thank you very much for reminding me again of my visit seven years ago. This was, in fact, very symbolic, and Mr. President, thank you for inviting me to your country this time. Of course, tomorrow we will inaugurate the student campus of the Italy-Azerbaijan University. This also means that Italian universities, on the one hand, and Azerbaijani universities, on the other, will cooperate.

Mr. President told me that seven years ago we were at the inauguration of a large industrial facility. He also noted that this has a very symbolic significance. This has already opened a new path for our energy and industrial cooperation in the future. Italy and Azerbaijan have already started cooperating in the cultural, humanitarian and educational sectors. This actually means the full and effective implementation of our strategic partnership and the agreement signed 10 years ago. This develops the relations between our countries. It is also evidence of cooperation not only in the industrial and energy sectors, but also in the cultural sector.

Mr. President noted here that the numerous students who will go to the university that we will inaugurate tomorrow will further strengthen the friendship between our countries. Of course, when it comes to these relations, the relations between our countries are very good, and as you can see, we are organizing several events. Now we will have yet another event. Of course, we value this very highly. Our cooperation, Azerbaijan’s openness to us, the work it has done with us and our cooperation are obvious.

I told President Aliyev that when it comes to your cooperation with the European Union, Italy will take steps on its side. I would like to specifically note that Azerbaijan is a very influential partner in a broad sense. The European Union sees this and, of course, our cooperation with you will be very important in this context. We will do our very best to ensure that these relations grow, develop and always cover more and more new areas, serving the well-being of our countries and peoples. For this purpose, I have come to Baku on this visit. I am grateful to Mr. President for inviting me to your country for the second time. Of course, you also mentioned the role of Italy here. I express my gratitude to you. I am also grateful for your hospitality.

Let me note that tomorrow will be an important day in the field of culture and education between Italy and Azerbaijan, and we will participate in a joint event tomorrow morning.

The step we have taken with President Aliyev will be one that serves our mutual understanding, friendship and cooperation. Italy is very pleased with this friendship and cooperation and intends to raise it to the highest level.

‘Over the years, our relations have developed rapidly and across various directions. Political relations are at the highest level,’ President Ilham Aliyev said during a joint press statement with Italian President Sergio Mattarella.

The head of state emphasized that in the economic sphere, Italy is Azerbaijan’s top trading partner.

Azerbaijan’s State Oil Company (SOCAR) is advancing its energy transition strategy with a focus on geothermal energy, alongside its broader low-carbon initiatives, Azernews reports.

This was stated by Afgan Isayev, Vice President of SOCAR, during his speech at the Baku Climate Action Week (BCAW2025).

Highlighting SOCAR’s roadmap for transformation, Isayev noted that by 2035 the company aims to maintain a balanced portfolio, where low-carbon projects will stand alongside traditional high-carbon energy projects. ‘We have also rapidly developed our internal knowledge by cooperating with regional and global partners,’ he said.

According to him, SOCAR has adopted a three-phase approach – learning, development, and exploitation. As part of this strategy, the company is already working with international players: ‘Together with Light Source and BP, we are implementing 240 megawatt projects and electrifying the Sangachal terminal. We have launched three new projects with Masdar and other partners.’

Turning to geothermal prospects, Isayev underlined that the company had already conducted studies with SLB to assess the potential and is now actively seeking an experienced partner to move the initiative forward.

‘We have achieved great results in almost three years, but all this was possible thanks to cooperation. Cooperation ensures knowledge exchange and accelerates decarbonization efforts,’ he emphasized.

LG Electronics has announced the restart of the initial public offering (IPO) process for its Indian subsidiary, aiming to sell a 15 percent stake in the company on the local stock market, Azernews reports, citing Korean media.

On Tuesday, LG’s board of directors approved the sale of 101,815,859 shares, representing a 15 percent ownership in the wholly-owned Indian unit. This move is part of LG’s broader strategy to raise funds for its headquarters in South Korea by listing the subsidiary on the Indian stock exchange.

The company plans to submit the final prospectus to the Securities and Exchange Board of India (SEBI) shortly, with the IPO expected to be completed as early as October. While the exact valuation and disposal date are yet to be finalized, LG confirmed that details regarding the share price range and schedule will be disclosed following SEBI’s final approval.

The IPO process was paused for five months amid global market volatility and trade policy uncertainties triggered by tariff measures under former U.S. President Donald Trump. LG initially filed a preliminary application with SEBI in December 2024 and received conditional approval in March 2025, before putting the process on hold in April.

Local Indian media estimate the IPO’s value at around 115 billion rupees (approximately $1.3 billion). Since the offering will involve only existing shares-with no new stock issuance-the proceeds will go directly to LG Electronics, allowing the company to raise capital without incurring debt or financing costs.

According to LG Electronics’ semiannual report, its standalone cash and cash equivalents stood at 1.1 trillion won ($784.5 million) as of the end of Q2 2025. A successful IPO could more than double this cash reserve, significantly bolstering the company’s financial stability.

However, LG Electronics continues to face challenges amid declining global demand for home appliances and TVs, compounded by the effects of trade tariffs. In Q2 2025, the company reported a 4.4 percent drop in revenue and a sharp 46.6 percent decline in operating profit compared to the same period in 2024.

Market analysts, including local tracker FnGuide, predict further declines in Q3, with revenue and operating profit expected to fall by 4.1 percent and 18.4 percent, respectively, year-on-year.

To navigate these headwinds, LG launched a voluntary retirement program last month, starting with its Media Entertainment Solution division, which manages TV operations. The company is also shifting focus toward expanding high-margin businesses such as heating, ventilation, and air conditioning (HVAC), while actively exploring growth opportunities in Southeast Asia, particularly in the rapidly growing Indian market.

LG is currently the market leader in home appliances in India. Its local unit reported robust performance in the first half of 2025, generating 2.28 trillion won ($25.7 billion) in revenue and 209.7 billion won ($149.6 million) in net profit.

The President of the Republic of Italy, Sergio Mattarella, arrived in Azerbaijan on an official visit on September 30, Azernews reports.

Azernews reports that upon arrival at Heydar Aliyev International Airport, a guard of honor was lined up in his honor, with the national flags of both countries displayed.

President Mattarella was welcomed at the airport by First Deputy Prime Minister of Azerbaijan Yagub Eyyubov, Deputy Minister of Foreign Affairs Fariz Rzayev, and other senior officials.

Azerbaijan is preparing a new climate plan – its updated Nationally Determined Contribution (NDC) – which will serve as a roadmap for building the country’s future energy system, COP29 President and Special Envoy of the President of Azerbaijan on Climate Change Mukhtar Babayev said during his speech at Baku Climate Action Week (BCAW2025), Azernews reports.

According to Babayev, the new framework envisions an energy system that will be cleaner, smarter, and more resilient.

‘It outlines how we will diversify beyond oil and gas, how we will scale up renewable energy, and how we will integrate energy efficiency and innovation into our economy,’ he emphasized.

Babayev stressed that NDCs are both international commitments under the Paris Agreement and national priorities for Azerbaijan.

‘These documents are the cornerstones of the global fight against climate change. At the same time, they provide a ‘green light’ for green investments, define timelines and targets, identify national priority sectors, and demonstrate the government’s commitment to concrete action,’ he added.

The foreign ministers of Germany, France, and Poland – Johann Wadephul, Jean-Noel Barrot, and Radoslaw Sikorski – called on Russia on Monday to cease its violations of the North Atlantic Treaty Organization’s (NATO) members’ airspace, Azernews reports.

Speaking at a meeting with Ukrainian chief diplomat Andrii Sybiha amid their joint appearance at the Warsaw Security Forum, Wadephul pressed for closer defense cooperation between European countries. He also insisted that “no member state will be left alone with this threat.”

Previously, at the same event, Ukrainian President Volodymyr Zelensky proposed that his country, Poland, and their allies create a joint defense shield against Russian air threats.

On September 30, an official reception was hosted by Ilham Aliyev, President of the Republic of Azerbaijan, in honor of Sergio Mattarella, President of the Italian Republic.

Masdar, the UAE’s leading renewable energy company, plans to introduce its experience in sustainable aviation fuel (SAF) production to Azerbaijan.

Azernews reports, the announcement was made by Murad Sadiqov, Head of Masdar’s Azerbaijan office, during his speech at the Baku Climate Action Week 2025.

According to Sadiqov, Azerbaijan’s renewable energy development strategy extends beyond export-oriented projects – it is also aimed at enhancing the reliability and resilience of the national energy system.

‘Our main goal is not just to fix current gaps in the energy grid but to build a more sustainable and dependable system,’ he said, adding: ‘Unstable energy holds no value – stability is everything.’

He emphasized the importance of energy storage systems, grid balancing mechanisms, and a diversified mix of renewable sources. Sadiqov also highlighted the growing significance of offshore wind and green hydrogen, noting that Masdar is actively investing in green hydrogen production and has already launched a pilot project for sustainable aviation fuel in the UAE. The company now aims to replicate that success in Azerbaijan.

He also pointed out that the Azerbaijani government is investing heavily in modernizing the national grid. Recently, two major energy storage systems were announced to help manage energy flow and frequency, which are expected to significantly boost the grid’s stability and performance.

Sadiqov underscored that Azerbaijan’s green energy ambitions are not limited to Europe-bound exports.

‘We’ve also witnessed agreements being signed with Central Asian countries. This marks a step toward building a large, stable energy network across the region,’ he said. ‘Azerbaijan is becoming the heart of an emerging energy hub – one that will play a critical role in the energy transition not only for the Caucasus but for the entire Eurasian region.’