Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS


Romgaz, SOCAR want to collaborate in large-scale international projects


The Romanian state gas producer Romgaz and the similar company in Azerbaijan, SOCAR, have entered into a partnership to collaborate in large-scale international projects.

"Joining a partnership with a company as big as SOCAR, with the prospect of expansion, is important for us as it will bring major benefits not only to Romgaz, but also to the energy sector and the national economy as a whole. Romgaz wants to expand its business by exploring new opportunities and identifying optimal and effective expansion options with profitable implications for the company," said Adrian Volintiru, general manager of Romgaz, after a meeting with SOCAR representatives in Baku.

According to a Romgaz press release issued on Monday for AGERPRES, projects of common interest were discussed during the meeting. More specifically, the Azerbaijani company officials have shown interest in the offshore exploration and expolitation, in partnership with Romgaz, of the Black Sea gas, if the Romanian company decides to get involved in this project.

Also mentioned was the possibility of collaborating on projects related to the Trans-Anatolian Natural Gas Pipeline (TANAP) and the Trans Adriatic Pipeline (TAP), whose project financing procedure by raising 3.9 billion euro ended in December 2018.