Weekly actual topics in Azerbaijan (July 17-21)

Analysis Materials 24 July 2017 15:24

Czech companies interested to partake in Baku refinery’s modernization

Czech companies are interested to participate in the modernization of the Baku Refinery, said Czech Ambassador to Azerbaijan Vitezslav Pivonka in an interview with Trend.

"We know that a project is being prepared on modernization of the Baku Refinery named after Heydar Aliyev," said the ambassador adding that Czech companies have vast experience in this sphere.

Even during the Soviet era, Czech companies participated in the construction of refineries throughout the USSR and in many countries of the Middle East, including the Baku Refinery, noted Pivonka.

The refinery’s modernization project is interesting for the Czech companies, which can participate in it.

The diplomat noted that Czech Republic also wants to accelerate the work on signing a memorandum of understanding in the energy sphere. The work on the project has been continuing for a long time.

Unfortunately, the work on it was slowed firstly by the change of the Minister of Industry and Trade of the Czech Republic, and then the premature death of Azerbaijani Energy Minister Natig Aliyev, said Pivonka.

He expressed hope that despite these unfortunate events, the work on the memorandum will be completed successfully.

It should be noted that the Azerbaijani oil meets about a quarter of the annual consumption of the Czech Republic, therefore, Azerbaijan, which has made a significant contribution to the diversification of Czech energy resources, has become an important strategic partner of this European country.

According to Azerbaijan’s State Customs Committee, the two countries’ trade turnover amounted to $201.011 million in January-June 2017, increasing by $10.056 million or 4.8 percent as compared to the same period of 2016.