Azernews.Az

BAKU – Azerbaijan’s state energy firm SOCAR is seeking to undertake management of Bulgaria’s gas distribution network, which will open up an additional market for Azerbaijani gas.

SOCAR has started negotiating the issue with the Bulgarian government, the company’s president, Rovnag Abdullayev, has said.

"Bulgaria is in need of our gas. Only 12 percent of the country has been supplied with gas. There is a big market there. We are holding talks and good results have been achieved."

Abdullayev said management of gas distribution networks will allow Azerbaijan to sell its gas for suitable prices.

The SOCAR head went on to say that the resource-rich South Caucasus republic is selling its oil for the highest price possible. For instance, since Ukraine made a lucrative proposal, crude exports to the country have surged.

"Currently, selling ‘black gold’ to the Mediterranean and Black Sea littoral states is considered more profitable in terms of transportation costs. Overall, we treat projects from the viewpoint of their commercial viability. Ukraine has bought 1 million tons of oil from us this year. There are no political aims involved here. They have paid for our oil ahead of time and offered a high price."

Azerbaijani Energy Minister Natig Aliyev said earlier that Azerbaijan plans to increase supplies of crude oil to Ukraine to an estimated 5 million tons per year.

Aliyev also said Azerbaijan could supply about 5 billion cubic meters of liquefied natural gas per year to Ukraine.