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German envoy and Azerbaijan´s SOCAR head mull energy cooperation

German envoy and Azerbaijan´s SOCAR head mull energy cooperation

Baku, June 18 - Neftegaz.RU. German Ambassador Wolfgang Manig has expressed German companies’ interest in the gas processing complex project by State Oil Company of Azerbaijan (SOCAR), Azernews reported.

He also said that these company representatives are interested in visiting Azerbaijan after the COVID-19 pandemic. The ambassador made the remark during the meeting with SOCAR’s President Rovnag Abdullayev on June 17.  

Speaking about Germany - Azerbaijani economic cooperation, Manig emphasized the successful continuation of long- term and fruitful cooperation between SOCAR and German energy companies, especially Uniper (E.ON).

In turn, SOCAR president Rovnag Abdullayev talked about the progress of Azerbaijan’s oil, gas and petrochemical industry during the current global pandemic. He noted that cooperation in the energy sector plays an important role in the development of Azerbaijani- German relations.

German Uniper and Azerbaijan state oil company SOCAR have been working in close cooperation for the past five years and established a joint venture for the development of energy efficiency in 2016.

SOCAR's share in the joint venture is 51 %, Uniper – 49 %. The joint venture conducts modernization based on German technologies at the Azerikimya PU’s enterprises. German energy provider Uniper is one of the buyers of Azerbaijani gas in the framework of the Shah Deniz-2 project.

Uniper and SOCAR have a long-term gas supply contract, under which until 2045, up to 1.5 billion cu m of natural gas is slated to flow to Europe each year via the so-called Southern Gas Corridor. These gas deliveries serve to diversify the European and with it the German gas supplies and enhance security of supply and competition.