Ukraine eyes to boost co-op with Azerbaijan in oil and gas industry

Ukraine eyes to boost co-op with Azerbaijan in oil and gas industry

Azerbaijan is Ukraine’s strategic partner in the energy sphere and the cooperation in the development of the oil and gas industry is of special importance, according to Azerbaijan in Focus, reporting Trend News, citing Ukraine’s energy ministry.

“Ukraine and Azerbaijan held a meeting of the working group on energy in June 2021 in order to intensify the bilateral cooperation. The sides highlighted the positive dynamics of collaboration in the oil and gas and oil transportation spheres and agreed to boost ties not only in the oil and gas but also in renewables and electricity generation. They focused on oil supplies to target oil refineries in Central and Eastern Europe via the Druzhba oil pipeline and pointed out that the project of Azerbaijani oil supply via the Odessa-Brody and southern branch of Druzhba is an important step aimed at ensuring reliable crude supply and strengthening of the region’s energy security.

Ukraine and Azerbaijan talked about the process of implementation of the Brody-Adamova Zastava oil pipeline, which is the key part of the Euro-Asian Oil Transportation Corridor (EAOTC) and reiterated readiness for constructive and mutually beneficial cooperation on this project.

Moreover, Ukraine makes efforts to ensure the development of ports infrastructure and diversification of oil products’ supply, thereby strengthening its energy security. Ukrtransnafta joint-stock company is modernizing the Yuzhny offshore oil terminal for the transhipment of light oil products. There were held talks with Kremenchuk oil refinery and Azerbaijani oil suppliers as part of the efforts to intensify the cooperation in ensuring Azerbaijani oil supplies to Ukrainian refineries.

These talks ended with the signing of a corresponding service agreement between Ukrtransnafta and Ukrtatnafta for oil transportation to Kremenchuk refinery via the Odessa-Yuzhny-Kremenchuk route. Oil transportation via this route began in March 2017. The volume of Azerbaijani oil transportation via Odessa-Yuzhny-Kremenchuk stood at 921,800 in 2020,” said the ministry.