Minister: Azerbaijan-Romania trade turnover gaining pan-European scale

Energy cooperation between Azerbaijan and Romania is diversifying and gaining a pan-European scale, Azerbaijani Energy Minister Perviz Shahbazov said at a reception on the occasion of Romania's National Day, Report informs.

"Trade turnover between the two countries for 9 months of 2023 increased by 48% and amounted to $526 million. 56.5% of the trade turnover is accounted for crude oil and oil products. Azerbaijan is an exporter of crude oil to Romania. The expanding activities of the State Oil Company (SOCAR) in Romania, 74 filling stations and several fuel depots in 28 regions, testify to the existence of mutually beneficial energy ties between our countries," he said.

In turn, Romanian Ambassador to Azerbaijan Vasile Soare said that trade turnover between Romania and Azerbaijan hit $700 million.

The ambassador noted that Romania and Azerbaijan are successfully working on the realization of important projects contributing to the energy security of Central and Eastern Europe.

"Azerbaijan, Georgia, Romania and Hungary cooperate in the implementation of the project of green energy supply from the Azerbaijani Caspian Sea shelf through the Black Sea to Constanta. The first contract for the supply of 1 billion cubic meters of natural gas from Azerbaijan to Romania is being implemented from April 1, 2023. There is also a project for transportation of liquefied natural gas from Azerbaijan through Georgia and the Black Sea to Romania," he said.