Czech Republic to store Azerbaijani oil in its reserves

Energy security is a fundamental pillar of national security for the Czech Republic, emphasised Thomas Požár, the country’s National Security Adviser.

Speaking at the 30th Anniversary Baku Energy Forum, Požár noted the importance of strengthening cooperation in the energy sector between the Czech Republic and Azerbaijan, Caliber.Az reports, citing local media.

“We are keen to deepen our collaboration in this field,” he said.

Požár acknowledged that while traditional energy sources will continue to serve countries for many years, significant efforts must be made to develop renewable energy alternatives.

Highlighting the strong energy ties between the two nations, Požár revealed that the Czech Republic is the second-largest importer of Azerbaijani oil. He added that, in two weeks, Azerbaijani oil will begin to be stored in Czech storage facilities.

To recall, in 2021, both nations signed an agreement to enhance cooperation in oil, gas, petrochemicals, and renewable energy sectors. This includes joint projects, knowledge exchange, and the establishment of a working group to facilitate collaboration.

Azerbaijan has become a significant energy partner for the Czech Republic. By mid-2024, Czech imports of Azerbaijani crude oil reached approximately 941,700 tons, valued at $597 million, making Azerbaijan the third-largest supplier to the Czech market.

This partnership supports the Czech Republic's efforts to reduce reliance on Russian energy sources, aligning with broader European energy diversification goals.

Looking ahead, both countries aim to expand collaboration in renewable energy. The Czech Republic is interested in contributing to Azerbaijan's renewable energy projects, including wind, solar, and hydroelectric power. Additionally, discussions are underway regarding the development of green hydrogen and ammonia production, areas where Czech expertise could be valuable.

By Aghakazim Guliyev