Ukraine interested in investments of Azerbaijani companies in energy sector
BAKU, Azerbaijan, Jan. 31
The current level of friendly political relations between Azerbaijan and Ukraine creates the basis for the successful development of economic ties, Azerbaijani Minister of Energy Parviz Shahbazov said.
Shahbazov made the remark in Baku at the meeting of the Azerbaijan-Ukraine working group on cooperation in the energy sector, Trend reports.
“More than 1.9 million tons of Azerbaijani oil was transported to Ukraine over the past three years,” the minister said. “SOCAR Trading SA supplied crude oil, various oil products and gas to Ukraine during this period.”
"SOCAR Energy Ukraine’s investments worth more than $300 million and the large-scale activity of the company were mentioned as positive moments," the minister said.
The signing ceremony of the "Memorandum of Understanding between the Azerbaijani Ministry of Energy and the Ukrainian Ministry of Energy and Environmental Protection" will positively affect the further development of energy cooperation.
"Ukraine has so far invested $25.4 million in Azerbaijan’s economy while Azerbaijan - $1.1 billion,” the minister said. “Today’s meeting will contribute to a further increase in these indicators."
Ukrainian Minister of Energy and Environmental Protection Orzhel Oleksiy spoke about the potential spheres of cooperation with Azerbaijan in the energy sector.
"Ukraine is interested in Azerbaijani companies’ investments in the energy sector,” the minister said. “Azerbaijani oil and gas products may also be exported to the European markets through Ukraine."
Ukrainian Minister of Infrastructure Vladyslav Kryklii stressed that dynamic cooperation in political and economic spheres is underway between Azerbaijan and Ukraine.
Kryklii added that both countries are interested in implementing joint projects in the energy, industrial and agricultural sectors.
"I think that Azerbaijan may use alternative ways of transporting oil and gas products through Ukraine,” the minister said. “Azerbaijani companies have great experience in building road infrastructure. Therefore, I urge Azerbaijani companies to take part in the reconstruction of Ukrainian roads."
Following the meeting, a protocol was signed and a decision was made to hold another meeting of the working group in 2021 in Baku.
A "Ukraine-Azerbaijan" round table and a meeting of the Azerbaijan-Ukraine working group on cooperation in the field of energy were held in Kiev on January 30.