Azerbaijan has been connected with oil for millennia! The Yanar Dag – or ‘fire mountain’ – which still burns on the oil rich Apsheron Peninsula was linked to the Zoroastrian fire cult of the Persians; later, at the turn of the Twentieth Century, with the help of the Nobel Brothers, the black gold was extracted on a truly collosal scale. Later the oil of Azerbaijan was to provide the fuel for the Soviet Union until the late 60’s when the West Siberian oilfields were discovered. Baku, still firmly remains the oil capital of the Caspian.

Mongolia has extensive oilfields, but development has been thwarted due to its lack of a refinery. Thanks to financial assistance from India, the country is now poised to have a full downstream-upstream cycle, and, as such needs expert advice and support. Where better to turn, than Baku?

“Mongolia is keen to take advantage of Azerbaijan’s rich experience in the field of oil and gas,” said the country’s Energy Minister Ts.Davaasuren as he met with his Azerbaijani counterpart Parviz Shahbazov.

The Mongolian minister described his visit as well as meetings in the Azeri capital Baku as an opportunity to strengthen cooperation between the two countries in energy and other spheres. Highlighting the development of the oil and gas sector in Mongolia, Ts.Davaasuren pointed to great potential for cooperation in this area.

Ts.Davaasuren also expressed his country`s willingness to encourage Mongolian students to study at Azerbaijan State Oil and Industry University.

Minister Shahbazov said Azerbaijan is ready to share its experience and collaborate in the areas of mutual interest with Mongolia. He expressed confidence that the signing of the Memorandum of Understanding on energy cooperation between the energy ministries of Mongolia and Azerbaijan will contribute to this process.

They exchanged views on the current state of the energy industry in both countries and discussed prospects for cooperation in the non-oil sector.