Azerbaijan recently hosted a two-day conference on energy policy organized by the U.S.-based Assembly of the Friends of Azerbaijan, bringing together representatives from the two countries.

Jonathan H. Elkind, the acting assistant secretary for international affairs at the U.S. Department of Energy, spoke at the conference, suggesting that Azerbaijan move into other sectors outside the energy sector, Oil and Gas Journal reports.

"The energy sector is not an end in itself, but a means to an end," Elkind said, according to Oil and Gas Journal. "Energy serves as the backbone for our economies. It underpins many other activities."

Elkind said that the U.S. intends to continue its relationship with Azerbaijan in order to maintain a diversified global hydrocarbon economy.

"Azerbaijan clearly has benefited from a huge body of work over 20 years, yet some of its most significant decisions still lie ahead," Elkind said, Oil and Gas Journal reports. "It has succeeded in attracting leading energy companies, but is ready to offer new opportunities for other businesses and industries."

Recently, Azerbaijan completed its 2,500th tanker loading at the Ceyhan terminal in Turkey, which opened a route for Caspian Basin crude oil to reach European customers.