Baku, Azerbaijan, Jan. 19
By Gulgiz Muradova – Trend:
Indian companies are keen for partnership in undertaking projects in petrochemical sector of Azerbaijan, Indian Ambassador Sanjay Rana told Trend in an interview.
The ambassador said that Azerbaijan and India are good partners in the energy sector.
"India’s ONGC-Videsh was among the signatories of the renewed ‘Contract of Century” Production Sharing Agreement on the Azeri-Chirag-Gunashli (ACG) fields signed in Baku in September 2017," reminded the ambassador.
The ambassador further stressed that Indian companies eye such projects as building and renovating oil refineries in Azerbaijan.
"Indian companies are strong in petrochemical areas and they are keen to work in Azerbaijan and work on project with SOCAR and other partners. In this regard, I would like to particularly mention L&T Petrochemicals and Engineers India Limited. They have comprehensive expertise and solid experience in construction of new refineries and upgrading, renovation and maintenance of existing refineries. These companies are actively looking at business opportunities in these areas in Azerbaijan," said the ambassador.
In the energy sector, according to the ambassador, beside equity partnership in the ACG and Baku-Tbilisi-Ceyhan (BTC) pipeline, Indian companies buy significant amount of oil from Azerbaijan.
"These are important relationships for us as they contribute to our energy security," the ambassador emphasized.
ONGC Videsh Limited owns a 2.31 percent stake in the ACG project and a 2.36 percent stake in the BTC project.