SOCAR, Ukrnafta discuss broader cooperation

BAKU. April 27 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) and Ukraine's Ukrnafta have discussed prospects for cooperation, SOCAR said in a statement.

"The discussions took place during a meeting between SOCAR President Rovshan Najaf and Ukrnafta CEO Sergei Koretsky. The two discussed the current state of existing cooperation and its development prospects," the statement said.

Following the meeting, Koretsky said on social media that a "very constructive and useful preparatory meeting" had taken place at SOCAR's Baku office. "Both parties are interested in deepening their partnership, developing existing initiatives and launching new joint projects. We discussed clear directions and practical steps," he said, adding that details would be provided later.

SOCAR has been doing business in Ukraine since the late 2000s. The company operates in the Ukrainian market through its subsidiary, SOCAR Energy Ukraine, where it has a network of filling stations and supplies petroleum products.

Energy cooperation between Azerbaijan and Ukraine includes oil and petroleum product supplies, infrastructure development and trade. In recent years, cooperation has also expanded into the gas sector, including the supply of Azerbaijani gas to Ukraine via the Trans-Balkan route.

Cooperation between SOCAR and Ukrainian companies, including Ukrnafta, focuses on commercial and operational projects. In 2023, the parties agreed to cooperate on fuel cards and the integration of filling station networks.

SOCAR also maintains dialogue with other key players in the Ukrainian energy sector, including Naftogaz, discussing increased supplies and new areas of partnership.