ECONOMY


German companies specializing in oil and gas industry interested in cooperation with Azerbaijan

Baku, February 14, AZERTAC

German companies specializing in drilling equipment and gas pipeline construction are interested in cooperation with Azerbaijan, said Wolfgang Buechele, chairman of Germany’s Committee on Eastern European Economic Relations, as he met Azerbaijani Energy Minister Parviz Shahbazov. At the meeting, Wolfgang Buechele emphasized that the existing level of relations between the two countries creates favorable conditions for expanding economic, especially energy cooperation.

Recalling that one of the buyers of gas to be produced within Shah Deniz Stage 2 was Uniper, the Germany chairman stressed the significance of the Southern Gas Corridor in supply of Azerbaijani gas to Europe.

In turn, Shahbazov noted that the economic relations between the two countries are developing in the non-oil sector and stressed that a large share of Germany’s trade with the countries of the South Caucasus accounts for Azerbaijan.

“More than 200 German companies operate in Azerbaijan,” Shahbazov said. He also spoke about the role of Uniper in the development of energy cooperation.

The sides also exchanged their views on the potential for cooperation on alternative and renewable energy sources, as well as on the application of German experience in the energy sector reforms.

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