The agreement between the Government of the Russian Federation and the Government of the Azerbaijan Republic on cooperation in the field of power industry

of October 7, 1995

The government of the Russian Federation and the Government of the Azerbaijan Republic which further are referred to as with the Parties

in view of basic provisions of the European energy charter,

being guided by the Agreement on coordination of the interstate relations in the field of power industry of the Commonwealth of Independent States of February 14, 1992, the Ashgabat Declaration on development of cooperation and enforcement of trust in the relations between the State Parties of the Commonwealth of Independent States of December 24, 1993, the Agreement on cooperation in the field of investing activities of the State Parties of the Commonwealth of Independent States,

recognizing importance of deepening of mutually beneficial long-term economic cooperation and interest of the Parties in further enhancement and effective use of power supply sources,

considering need of creation of conditions for realization of benefits of joint operation of Power pool system of Russia and the Azerbaijani power supply system, and also for the purpose of ensuring transit of the electric power across the territory of the Parties according to the single principles and the Agreement on parallel work of power supply systems of the Commonwealth of Independent States,

agreed as follows:

Article 1

The parties recognize the state sovereignty and the sovereign rights concerning power generation facilities and on this basis will develop and deepen mutually advantageous economic and sci-tech cooperation in the field of power industry.

Article 2

Business entities of the Parties are guided in the activities by the existing rules, provisions, instructions and regulating documents regulating functioning and development of power industry.

Changes, and also introduction of the new bilateral regulating documents infringing on interests of the Parties are made under approval between competent authorities of the Parties.

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