Azernews.Az

By Aynur Karimova

Azerbaijan's state energy company SOCAR has reaffirmed its commitment to the project on construction of gas-fired power plant in Malta.

This was stated at a meeting held between SOCAR President Rovnag Abdullayev and Prime Minister of Malta Joseph Muscat and this country's Energy and Health Minister Konrad Mizzi on September 7, Maltese media reported.

The sides discussed the implementation of SOCAR's investment project in Malta and stressed that the implementation of this project is underway in accordance with the schedule.

They also mulled the opportunities to further develop cooperation in energy sector between Azerbaijan and Malta, as well as prospects for the expansion of investment projects.

Abdullayev informed the Maltese officials about the achievements in the oil and gas industry, also large-scale energy projects carried out across the country and abroad.

The sides also touched upon the issue of expansion of investment cooperation and development of opportunities of bilateral cooperation in the oil and gas sector.

Azerbaijan's energy giant SOCAR, which is keen on expanding operations in the retail oil products market abroad is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

SOCAR includes Azneft (companies producing oil and gas offshore and onshore), Azerkimya (chemical industry) and Azerigas production associations.

In 2015, SOCAR optimized the structure of its oil refining facilities and established one large enterprise on the basis of two oil refineries.

Caspian’s Azerbaijan and Mediterranean’s tiny island country Malta established diplomatic relations in January 1995. In 2011, Vagif Sadigov, Azerbaijan’s ambassador in Italy appointed as country’s ambassador to Malta.

Trade turnover between the two countries amounted to $86.547 million in 2014, Azerbaijan's State Customs Committee reported.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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