Romania, Country is in talks with Azerbaijan for the diversification of oil and gas transport and supply routes

, SEE Energy News

Romanian Minister of Energy Virgil Popescu said that Romania is in talks with Azerbaijan for the diversification of oil and gas transport and supply routes.

Earlier this week, Minister Popescu announced that Romania is in talks with State Oil Company of Azerbaijan (SOCAR) regarding the increase of Azeri oil and natural gas supply to the country. He said that, together with the representatives of Transgaz and Romgaz, the Ministry had a new working meeting with the representatives of SOCAR regarding the details of a collaboration in order to diversify the sources, but also to supplement the supply of oil and natural gas for Romania.

He also said that he has discussed with his Bulgarian and Turkish counterparts about transport routes and the possibility of the two countries supplying Romania with liquefied natural gas (LNG).

In October 2019, Romanian natural gas producer Romgaz and SOCAR signed a Memorandum of Understanding on cooperation in oil and gas upstream projects.

In May, Minister Popescu that said he is encouraging the return of multinational oil and gas company Shell to its market, aiming to partner-up with the company in LNG projects. Previously in April, he said that Romania could start importing LNG from Israel via Egypt in order to reduce its dependence on Russian natural gas.

Currently, Romania covers up to 28 % of its natural gas needs with imports, most of them from Russia.