Azerbaijani, Romanian energy giants sign cooperation accord

The State Oil Company of Azerbaijan (SOCAR) and the Romanian company Romgaz signed a memorandum of understanding on October 19.

The document was signed by SOCAR Vice-President Elshad Nasirov and Romgaz Deputy CEO Aristotle Judet, Report informs citing the Economy Ministry, Report informs.

"During Azerbaijani President Ilham Aliyev's official visit to Bulgaria in early October this year, at a meeting with Romanian Prime Minister Nicolae Ciuke, the issue of regional energy cooperation was discussed, and directions for expanding partnership were identified. In accordance with these directives, a delegation led by Economy Minister Mikail Jabbarov, Energy Minister Parviz Shahbazov, and SOCAR management visited Romania," the report says.

The importance of Azerbaijan in Europe's energy security, the development of ties with Romania in a number of sectors of the economy, SOCAR's activities in this country, and views on the possibilities of strengthening cooperation in the field of energy, including renewable energy, were highlighted at the event dedicated to the signing of the memorandum of understanding.