Austrian energy company OMV AG (OMV.VI) said Friday it had signed a memorandum of understanding with Azerbaijan's state oil company Socar regarding further cooperation between the two companies.
Austrian energy company OMV AG (OMV.VI) said Friday it had signed a
memorandum of understanding with
Azerbaijan
's
state oil company Socar regarding further cooperation between the two
companies.
In his visit to
Baku
earlier this week, OMV's Chief Executive Officer Gerhard Roiss also met with
President Ilham Aliyev to discuss OMV's potential investment plans in the
country.
OMV and the Shah Deniz consortium, a group of energy companies developing the
second phase of Azerbaijan's offshore natural gas field Shah Deniz, are
currently negotiating long-term gas supply for transport from the Caspian
region to Europe via Turkey, OMV said.
"
Azerbaijan
is
one of the key countries to deliver natural gas to cover the growing demand in
Europe
. As
part of the Nabucco consortium, OMV is looking forward to concluding first
supply contracts and increase its gas business in this country," Roiss
said.
The Nabucco pipeline is expected to transport gas from the Caspian and Middle
Eastern regions to
Europe
through
Turkey
.
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