SOCAR, CEZ consider potential cooperation opportunities
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ECONOMICS  02 June 2023 - 16:25

Azerbaijani State Oil Company (SOCAR) president Rovshan Najaf and Czech Trade and Industry Minister Josef Sikela have considered potential opportunities for cooperation between SOCAR and CEZ, one of the largest energy companies in Europe.

At the meeting, the parties noted the successful development of a strategic partnership between the countries expressing satisfaction with the mutually beneficial cooperation in the economic sphere, including in the oil and gas sector, Report informs, citing SOCAR.

The growing role of SOCAR in supplying crude oil and petrochemicals to the Czech Republic was mentioned. The importance of the Southern Gas Corridor which has become an important part of the European energy security system was emphasized as well as the works on the supply of additional gas volumes to Europe.

The meeting also included an exchange of views on natural gas supply, liquefied natural gas (LNG) trade and an exchange of experience.

The diplomatic relations between the Czech Republic and Azerbaijan were established in January 1993. However, the first stage of relations (1993-2006) was specific in the sense of lower activity, above all due to other priorities of both countries.

Sizable progress within the Czech-Azerbaijani relationship has been made after opening the Embassy of the Republic of Azerbaijan in Prague (July 2007).

The period of 2008-2012 could be characterized by the expressive development of political contacts between the officials of the two countries, the effective creation of the legal basis of the relations and the deepening of mutual cooperation in the fields of economy, tourism, culture and education.

The current state of relationships provides an adequate framework and atmosphere for further developing and intensifying bilateral cooperation. Our bilateral relations are not burdened with any substantial problems.

Caliber.Az