Azerbaijan's SOCAR Likely To Extend Gas Supplies To Romania

2024-04-01 08:08:56

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 1. The State OilCompany of Azerbaijan Republic (SOCAR) may extend the gas supplycontract signed with Romania for two more years, with the decisionto extend it depending on the willingness of the Romanian side,Vice-President of SOCAR on Investments and Marketing Elshad Nasirovsaid, Trend reports.

Nasirov made the statement during the 8th session of theAzerbaijan-Romania Intergovernmental Joint Commission on Trade andEconomic Relations and Scientific and Technical Cooperation.

He mentioned that yesterday marked the expiration of the gascontract between the two nations, under which SOCAR had thecapacity to supply Romania with up to 1 billion cubic meters of gasannually.

The vice-president indicated that there was potential to extenddeliveries for the current and upcoming years.

Nasirov stated that over the last three years, SOCAR hasprovided Romania with 1.2 million tons of oil products worth $800million through its companies. SOCAR Türkiye provided Romania with1.1 million tons of oil products and 33,000 tons of chemicalproducts worth $1.1 billion, while SOCAR Trading transferred around700,000 tons of oil products worth $600 million to Romania.

He also stated that SOCAR runs 74 gas stations in Romania and hasinvested €70 million in infrastructure development in thenation.

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