Azernews.Az

Azerbaijan is set to expand its energy strategy beyond the region to the Mediterranean, by taking important steps in Israel. Energy cooperation with Tel Aviv began long ago, but Azerbaijan's oil giant SOCAR suspended its operations in the region due to the recent military confrontation that erupted in 2023 following the Hamas attack on Israel. With the conclusion of the military confrontation, SOCAR resumed its operations in Israel and even expanded them further by purchasing a 10 per cent stake in the Tamar natural gas reservoir off the country's Mediterranean coast from Israeli businessman Aaron Frenkel in February 2025. In addition, a few days ago, Israel Globes circulated news that SOCAR, as the operator in a consortium with British Petroleum (bp) and Yitzhak Tshuva's NewMed Energy to search for gas in Block I in the northwest of Israel's economic waters, will sign...

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