SOCAR and PM Ponta discuss AGRI


The Minister of Energy in Azerbaijan and SOCAR representatives met with Romanian authorities upon official invitation from Prime Minister Victor Ponta to discuss bilateral economic relations, a press release issued by the oil company shows. The most important topics approached in the official meeting focused on the prospects of the AGRI project, investment opportunities in the Romanian market, and the development of Azeri – Romanian projects in the economic area.
The Azeri delegation consisted of Natiq Aliyev, Energy Minister, Rovnag Abdullayev, president of SOCAR, Elshad Nassirov, vice-president of SOCAR, Murad Heydarov, counselor to the president of SOCAR, Hamza Karimov, CEO SOCAR Romania, Vitaliy Baylarbayov, AGRI Board member, and Rauf Hasanov, counselor to the Energy Minister. According to a Ministry of Economy press release, the feasibility study for AGRI is expected to be finalized in the first half of the year and the parties involved are to make a decision based on the resulting data.
“The knowledge and experience of Romanian experts can contribute to the success of any energy project, whether we are referring to electricity, oil & gas, or the industry. I have also brought up the possibility of Azeri – Romanian cooperation in the petrochemical sector,” Minister Constantin Nita said.
Azeri officials had a meeting with Prime Minister Victor Ponta regarding the cooperation between the two countries, which was also attended by Romanian company representatives. Another topic of discussion was the possible methods of collaboration with respect to both the energy market in Azerbaijan and external markets.
“Europe is facing many challenges in the process of diversifying its provider sources necessary to ensure energy security, maintain competitiveness and the industry and economy sectors, and develop infrastructure,” Rovnag Abdullayev, president of SOCAR, stated. “SOCAR has invested over EUR 50 million in Romania, creating over 320 jobs,” Hamza Karimov, CEO SOCAR Romania, said in turn.
On December 31, 2013 the overall volume of Romanian – Azeri trade exchanges was approx. USD 95 million. Romanian exports reported a significant growth during that same period (+92.91 percent) and a turnover of USD 43.79 million. The import of oil from Azerbaijan accounts for almost 92 percent of overall Romanian imports from this country. The following products are the main contributors to Romanian exports: cars, machines and equipment, pharmaceutical products, wood and items made of wood, and food industry products.

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