“VNG AG and SOCAR recently signed a long-term partnership agreement. The partnership focuses on two key objectives - short-term and long-term priorities,” said Oliver Hill, Head of Corporate Development at VNG AG Group, during his remarks at the German-Azerbaijani Strategic Partnership and Connectivity Conference.
He noted that the short-term priority is to supply Europe with energy, including natural gas, while the long-term objective is to transform the energy business from its current fossil fuel-based model toward a decarbonized future.
He emphasized that Europe had already begun importing Azerbaijani gas earlier this year, with increasing the volumes being one of their key objectives. Oliver Hill added that, in the long term, they aim to advance the energy transition in Europe and Azerbaijan, secure 15- to 20-year gas supplies for Azerbaijan, and potentially invest in infrastructure and develop hydrogen and biomethane supplies to Europe.
