Azerbaijan’s SOCAR and Romania’s Transgaz sign MOU

On July 19, 2016, SOCAR President Rovnag Abdullayev received the Romanian delegation consisting of Ramona Nicole Manescu, Member of the European Parliament, Ion Sterian, Administrator-President, Transgaz, Ciprian Octavian Alic, European Funds Accessing and International Relations Division, Transgaz.

The meeting highlighted the developing relations between Azerbaijan and Romania, energy cooperation and SOCAR’s successful operation in Romania.

A Memorandum of Understanding signed between SOCAR and Transgaz considers the strengthening of cooperation on gas transportation, as well as opportunities of using Romania’s gas transit and distribution capacity in gas supply from Azerbaijan and Caspian region, cooperation on gas supply and trading in Romanian market, including potential terminals for LNG intake within the framework of AGRI.

The sides emphasized that the Memorandum will enable the companies to extend cooperation in the South-East European and Balkan gas markets and expressed confidence in its contribution to the extension of cooperation between the countries.