SOCAR, CEZ review potential cooperation opportunities

The President of the State Oil Company (SOCAR), Rovshan Najaf, and the Minister of Industry and Trade of the Czech Republic, Jozef Sikela, reviewed the potential cooperation opportunities of SOCAR with CEZ, one of the largest energy companies in Europe, Report informs.

At the meeting, the sides stated that the strategic partnership links between the two countries were successfully developed and expressed satisfaction with mutually effective cooperation in the economic field, including the oil and gas sector.

The sides discussed the increasing role of SOCAR in the supply of crude oil and petrochemical products to the Czech Republic, emphasized the significance of the Southern Gas Corridor, which has become an important component of the European energy security system, and considered the work done in connection with the supply of additional gas volumes to Europe.

At the meeting, views were also exchanged on natural gas supply, liquefied natural gas (LNG) trade, and exchange of experience between SOCAR and CEZ.