Azernews.Az

Azerbaijan's State Oil Company (SOCAR) and German Uniper company have discussed prospects for expanding their existing cooperation.

The discussion took place during a meeting between SOCAR acting president Rovshan Najaf and a delegation led by Uniper’s CEO Klaus-Dieter Maubach at the coordination committee's 7th meeting.

Najaf briefed the meeting on the relationship between SOCAR's Azerikimya Production Union and Uniper. He emphasized the significance of Uniper's relevant experience in implementing joint projects.

In turn, Maubach praised the successful collaboration with SOCAR and emphasized the importance of furthering business relations.

The parties also discussed various areas of collaboration between SOCAR and Uniper, including energy transmission, renewable energy, and other mutually beneficial issues.

Uniper and SOCAR signed a long-term gas supply contract in 2013. The Southern Gas Corridor is expected to transport up to 1.5 billion cubic meters of natural gas per year to Europe until 2045. These gas deliveries help to diversify European and German gas supplies, as well as improve supply security and competition.

In 2016, SOCAR and Uniper formed a joint venture for the development of energy efficiency.

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