Baku, Prague seek to expand energy cooperation

By Azernews

By Amina Nazarli

A Czech delegation led by Minister of Industry and Trade Jan Mladek held talks with Azerbaijan's state energy company SOCAR in Baku on prospects of deepening the energy cooperation.

The delegation was received by SOCAR Vice President Yashar Latifov, who informed the guests about the oil and gas projects implemented in Azerbaijan and the company achievements.

Speaking about Azerbaijan’s contribution to the European energy security, Latifov said the development of the Shah Deniz gas field made Azerbaijan, one of the world’s oldest oil producers and exporters, the natural gas producer too.

He mentioned that the Southern Gas Corridor, including TANAP and TAP projects, designed for the transportation of natural gas resources from Azerbaijan to Europe has gained international support.

Mladek , in turn, stressed that Azerbaijan’s oil supplies is very important for the energy supply of his country, and they were closely watching the construction of gas pipelines to Europe as this issue is also important for them.

The parties further underlined the contribution of the Azerbaijan-Czech Business Forum held in Baku on January 17 to the development of economic relations between the countries, and discussed cooperation prospects.

Azerbaijan and the Czech Republic plans to sign a Memorandum of Understanding on energy cooperation, stated Mladek at the meeting with Azerbaijan’s Deputy Energy Ministers Natiq Abbasov and Gulmammad Javadov.

They discussed energy relations and necessary measures to expand the cooperation between the two countries.

Mládek informed that the Czech Republic is ready for participation in the construction and reconstruction of oil, gas and electricity facilities in Azerbaijan, supplies of oil to refinery ‘Kralupy’, and cooperation in the field of alternative energy.

Energy has traditionally taken a leading role in economic cooperation between Baku and Prague. Azerbaijan is the second largest exporter of oil to the Czech Republic, which meets one third of energy needs of this country.

By providing a significant contribution to the diversification of energy resources of this country, Azerbaijan emerged as an important strategic partner of the European country.

The trade turnover between Azerbaijan and the Czech Republic amounted to $312.02 million in January-November 2016, and $214.17 million of which accounted for the export of Azerbaijani goods to the Czech Republic, according to the Azerbaijani State Customs Committee. 

Czech Republic mainly imports Azerbaijani oil, while industrial equipment and consumer goods are exported to Azerbaijan. The country is a reliable partner for Azerbaijan in several fields.

The Czech Republic ranks 12th in the list of main importers of Azerbaijani goods. The share of the Czech Republic in the total export from Azerbaijan totaled 2.58 percent in January-November 2016.