Memorandum of Understanding expressing the intent of the Republic of Azerbaijan and the United States of America to begin a high-level dialogue on energy security in the Caspian region.

By the Presidential Decree № 2118 dated 20 April 2007, Memorandum of Understanding expressing the intent of the Republic of Azerbaijan and the United States of America to begin a high-level dialogue on energy security in the Caspian region was approved. The Parties agree upon cooperation on energy security in the Caspian region, development of new methods for the safety of transit and export pipeline network and besides development of renewable energy resources. The Parties stress on the important role of Azerbaijan as an energy producer, secure and reliable transportation of energy resources to international markets, natural gas supplies from the Caspian region to Central Europe and the Western European market and rapid economic and social development of Azerbaijan due to oil and natural gas production and export. The Parties shall focus on alternative options for transportation of Caspian energy resources to Europe, as well as existing gas pipeline projects such as Baku-Tbilisi-Ceyhan and Nabucco.