BAKU, Azerbaijan, September 27. The State Oil Company of Azerbaijan (SOCAR) and German company VNG have signed a Strategic Cooperation Agreement, SOCAR reported on Saturday.
"The Strategic Cooperation Agreement between SOCAR and VNG establishes a framework for future cooperation between the companies. The document envisages a long-term partnership in natural gas, as well as related infrastructure and regulatory matters," the statement said.
In addition, the parties will cooperate on energy transition issues, as well as scientific and technical aspects of the development of hydrogen and its derivatives.
On June 25, 2024, SOCAR and VNG signed a Memorandum of Understanding to expand cooperation in natural gas and renewable energy.
VNG AG is a German energy group headquartered in Leipzig, bringing together more than 20 companies in Germany and Europe. The group is an importer and wholesale supplier of natural gas, as well as an operator of critical gas infrastructure, including gas transportation and storage systems.
VNG's activities cover five main areas: trading and sales, transportation, storage, biogas and digital infrastructure. The company is also implementing the VNG 2030+ strategy aimed at developing renewable and low-carbon gases, including biogas and hydrogen, and participates in the transformation of the energy system.
In 2025, the group reported revenue of around 18 billion euros, adjusted EBITDA of 422 million euros, and a workforce of 2,049 employees. VNG operates in five countries: Germany, Poland, the Czech Republic, Austria and Italy.
