The State Oil Company of the Republic of Azerbaijan (SOCAR) and the Egyptian General Petroleum Corporation (EGPC) have signed a framework agreement covering the supply of liquefied natural gas (LNG), crude oil and petroleum products, as well as investments, training, and education programs.

Natig Mustafayev, CEO of SOCAR Trading, told an AZERTAC correspondent that SOCAR Trading has already been supplying liquefied natural gas to Egypt for the past nine months. He noted that the agreement, which covers a period of two and a half years, envisages the expansion of energy cooperation between SOCAR and EGPC.

Mustafayev added that SOCAR plans to further deepen its cooperation with the Egyptian side. “In this direction, possibilities for oil refining in Egypt and the export of Azeri Light crude oil to the country are being considered. The parties intend to accelerate the development of cooperation through the framework agreement signed today,” he said.