MNA – Azerbaijani Economy Minister Shahin Mustafayev said on Saturday that Baku, Moscow and Tehran are preparing to create a North-South energy corridor.

"A feasibility study is currently being prepared on the creation of the Azerbaijan-Russia-Iran 'North-South' energy corridor. All of these works expand our cooperation in the energy sector," Sputnik news agency reported.

At the same time, the minister noted that the energy systems of Azerbaijan and Russia operate in a parallel mode and the electricity exchange is underway,.

"So, in 2018, more than 121 million kWh of electricity was exported from Azerbaijan to Russia, and over 76 million kWh of electricity was imported from Russia," Mustafayev said.

Russia's System Operator and power company Rosseti, Azerbaijan's Azerenerji and Iran's Tavanir (Iran Power Generation and Transmission Company) are parties to the agreement.