SOCAR, Naftogaz explore new cooperation opportunities

Azerbaijan’s state oil company SOCAR and Ukraine’s Naftogaz Group have held discussions aimed at expanding their cooperation, the companies confirmed on January 20.

SOCAR President Rovshan Najaf wrote on X that the talks took place on the sidelines of the 2026 World Economic Forum (WEF 2026).

“Within the framework of WorldEconomicForum2026, I met with Sergii Koretskyi, Chairman of the Board and CEO of Naftogaz Group,” Najaf said.

“During our discussions, we reaffirmed our commitment to fostering collaboration and exploring new opportunities for cooperation.”

Najaf also met with executives from the Boston Consulting Group to discuss energy transition initiatives.

“As part of the World Economic Forum 2026, I met with Matthias Tauber, Managing Director and Senior Partner, Regional Chair for Europe, the Middle East, South America, and Africa at BCG,” he stated. 

“We discussed the importance of the Climate and Sustainability Lighthouse program implemented through our partnership, which has enabled the development of large-scale roadmaps across upstream and downstream operations and contributed to increased investments in renewable energy.”

He added that the talks also covered broader trends in the energy sector. “We exchanged views on emerging energy trends, ongoing digital transformation, and the role of strategic innovation in navigating a rapidly evolving economic and energy landscape,” Najaf said.

By Aghakazim Guliyev