SOCAR
BALKANS AS ONE OF PRIORITY DESTINATIONS IN EUROPE
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SOCAR Balkans is active in exploring potential avenues of business opportunities and partnership in the field of energy in the region, including Croatia. We continue our engagement with the regional energy companies in terms of gasification and further development of the Ionian Adriatic Pipeline project
OCAR is the leading national energy company in Azerbaijan which maintains the key positions in upstream developments, petrochemical and oil and gas processing, international marketing and trading operations, as well as retail services. SOCAR has transformed over the last ten years into a significant stakeholder in the European energy sector with substantial infrastructure assets and retail operations abroad. Azerbaijan plays a fundamental role in providing alternative hydrocarbons, both oil and gas, to Europe thus contributing to the energy security of European countries. The Southern Gas Corridor (SGC) is one of the most challenging energy projects in the world from the standpoint of its monetary value and work scope perspectives in the
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AZERBAIJAN 2018
last decades. The SGC’s aim is to transport alternative gas from the Caspian region via a brand new transportation system to Europe. It stretches over 3,500km, crosses
AZERBAIJAN PLAYS A FUNDAMENTAL ROLE IN PROVIDING ALTERNATIVE HYDROCARBONS, BOTH OIL AND GAS, TO EUROPE THUS CONTRIBUTING TO THE ENERGY SECURITY OF EUROPEAN COUNTRIES
six countries, deals with six regulatory systems, involves twelve investing companies and includes twelve gas buyers. The overall value of the project is around 40bn USD. What makes this project so special is that it is not just another way of re-routing existing supplies. Instead, this is the first project in several decades that will incorporate truly new gas supplies into South East Europe. Azerbaijan is the facilitator of this unique project and SOCAR, along with its international partners, has significantly progressed in the implementation of the project activities. First gas from Azerbaijan will reach the European market in 2020. We consider Croatia as a direct and important participant in the Southern Gas Corridor and appreciate very much Croatia’s contribution to the Ministerial Meet-
