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Ukraine and Azerbaijan set to enhance energy cooperation

Ukraine and Azerbaijan set to enhance energy cooperation

Kiev, January 31 - Neftegaz.RU. A regular 12th meeting of the Azerbaijan-Ukraine Intergovernmental Commission (IPC) on economic cooperation was held in Ukraine today, Azernews reported.

Azerbaijan was represented by Energy Minister Parviz Shahbazov and Ukraine by Infrastructure Minister Vladyslav Krykliy at the meeting. Expanding cooperation in the trade, economic, energy, transport and infrastructure sectors, as well as in the field of high technology, agriculture, culture, tourism and others were discussed at the meeting.

Following the meeting, the final protocol and a number of other documents were signed. As part of the meeting, Shahbazov together with the President of SOCAR (Azerbaijan’s State Oil Company) Rovnag Abdullayev and representatives of some structures and business circles visited a number of infrastructure facilities in Odessa.

Moreover, a regular meeting of the Ukraine-Azerbaijan working group on cooperation in the energy sector and a round table was held on January 30.

Azerbaijan is currently the main supplier of oil to Ukraine. Ukraine imported crude oil worth $309.443 million from Azerbaijan in 2019, which is 76.3 of the country’s total crude oil imports.

SOCAR carries out its activity in Ukraine through SOCAR Energy Ukraine since 2009. SOCAR filling station network includes 59 filling stations in 11 regions of the country as well as two oil tankers.

The main activity of SOCAR Energy Ukraine is to develop a network of petrol stations in Ukraine, organize wholesale of gasoline and oil products. Since late 2016, the company has also been engaged in trade of natural gas in Ukraine.

Azerbaijan has already invested $1 billion in the Ukrainian economy and we want to invest another $1.5 billion in the future.