China's CNCEC looking to expand partnership with Azerbaijan's SOCAR

BAKU. Jan 14 (Interfax) - China National Chemical Engineering Corporation (CNCEC) plans to bolster cooperation with the State Oil Company of the Azerbaijan Republic (SOCAR) in technology and international project implementation, CNCEC Management Board Chairman Mo Dingge said.

CNCEC's CEO met with Kanan Mirzayev, President of SOCAR Turkiye Enerji, SOCAR's Turkish subsidiary, on Tuesday, CNCEC said.

"The parties discussed bolstering long-term strategic cooperation in the energy and chemical industries and jointly promoting regional economic development in the context of global trends in energy transition and industrial modernization," according to the statement.

Mo Dingge said that CNCEC, as a global leader in chemical engineering, has significant experience in the construction, investment, and operation of industrial facilities, as well as in research and technology development. He added that SOCAR, as the backbone of Azerbaijan's energy sector, has significant influence on the global oil, gas, and petrochemical sectors.

"CNCEC is committed to continuously bolstering cooperation with SOCAR in areas like joint technological innovation and expanding its presence in the international market," Mo Dingge said in the press release.

Mirzayev, in turn, said that CNCEC's technological potential, engineering expertise, and international operations significantly complement SOCAR's development strategy, creating broad opportunities for partnership.

The companies previously signed a framework agreement that envisages implementing joint projects both in Azerbaijan and in third countries.

SOCAR Turkiye Enerji owns a controlling stake of 51% in Petkim Petrokimya Holding. The company also built the Star Oil Refinery, a container terminal, and a power plant in Turkey. It supplies gas to the domestic market and petroleum products to aircraft refueling points at airports in several major Turkish cities.