The State Oil Company of Azerbaijan (SOCAR) is ready to extend the contract signed with Romania on gas supply by 2026, SOCAR Vice President Elshad Nasirov said at the 8th meeting of the Azerbaijan-Romania Intergovernmental Joint Commission on Trade, Economic Relations, and Scientific-Technical Cooperation, which was held in Baku, Ednews informs.

The Vice President said that the gas contract between the two nations expired on March 31: "According to this contract, SOCAR was able to supply 1 billion cubic meters of gas annually without any obligation of the supplier or buyer. We are ready to continue the project this year and next year."

Nasirov added that in the last three years, SOCAR supplied 1.2 million tons of oil products worth $800 million: “SOCAR Türkiye supplied Romania with 1.1 million tons of oil products worth $1.1 billion, 33,000 tons of chemical products, as well as SOCAR Trading supplied Romania with approximately 700,000 tons of oil products worth $600 million.”

He also pointed out that SOCAR operates 74 gas stations in Romania: "SOCAR Romania employs 777 people, and we have invested 70 million euros in the creation of infrastructure in Romania. Crude oil and petroleum products are delivered to Romania by several branches of SOCAR.”

Nasirov also noted that the Romanian regulator is expected to issue a license to the Luxembourg-based SOCAR Trading Gas and Power company.