SOCAR Trading eyes Africa and Southeast Asia for future growth

SOCAR Trading is exploring opportunities to expand its presence into African and Southeast Asian markets as part of its international growth strategy, a company official has said, AzerNEWS reports.

Speaking at a business forum held during the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank, Togrul Kocharli, Head of the International Business Development Department at SOCAR Trading, said the company is assessing several promising regions for future expansion.

According to Kocharli, SOCAR also sees significant untapped potential along the western coast of the Black Sea, particularly in Romania, Albania, Bulgaria, and Greece, where the company already has a presence but aims to strengthen its operations.

"In Romania, we are represented by a network of gas stations. As for terminals, a company has been registered in Albania, and SOCAR is currently expanding its activities through that company to start supplying natural gas to the city of Korça for the first time in the history of this country. This is also one of the promising development directions," he said.

Kocharli noted that the company's primary focus is now on entering new international markets.

"We are paying attention to Africa and Southeast Asia, countries such as Pakistan, Bangladesh, and India. These are huge markets that are located a little further away from us, but nevertheless offer interesting opportunities," he added.