SOCAR and Transgaz, cooperation agreement to expand on SEE market

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Azerbaijan’s State Oil Company (SOCAR) and Romania’s state-owned company Transgaz have signed in Baku a memorandum of understanding (MoU) in the presence of SOCAR President Rovnag Abdullayev, Ramona Manescu, member of the European Parliament, the chairman of the Transgaz Board of Administration, Ion Sterian, and the head of European Funds Accessing and International Relations Division of Transgaz, Ciprian Alic.

According to a press release, the protocol aims to strengthen cooperation in the field of transportation, transit and distribution of natural gas from Azerbaijan and the Caspian region.

The potential of such operations, the prospects for sales on long-term contracts and spot deals, including project AGRI LNG will be assessed within this framework.

The companies are also ready to intensify the joint activities on the natural gas markets of the South East Europe, including Romania, and Baltic region.

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