BAKU, Azerbaijan, April 1. The State Oil Company of Azerbaijan (SOCAR), through Luxembourg-registered company "SOCAR Trading Gas and Power," has applied to the regulator in the field of energy activities in Romania for a license, which will allow "SOCAR Trading Gas and Power" to carry out gas trading operations in Romania, an informed source exclusively told Trend.
"We hope to get a license from the Romanian regulator this year, which will allow us to trade gas on the territory of Romania. The availability of such a permit is also important for the possible implementation of the project to create an LNG terminal for Caspian gas in Constanta and for the realization of other gas initiatives in Azerbaijan and Romania," the source noted.
He reminded that a similar license for gas trading operations was obtained in Bulgaria in May 2023 by SOCAR Trading.
Specifically, SOCAR Trading can sell gas from different sources (Azerbaijani or gas from other world producers) to consumers in Bulgaria.
"In Romania, we are relying on a similar scheme," the source emphasized.
To note, SOCAR, represented by its representative office, Socar Petroleum SA, has been operating in Romania for 12 years.
The company owns 74 gas stations in Romania and provides them with fuel.
Socar Petroleum SA also imports and distributes petrochemical products such as methanol, urea, polyethylene, and polypropylene in Romania, with three warehouses in Teius, Onesti, and Constanta.
The Azerbaijani and Romanian governments discussed the possibility of expanding SOCAR's business in Romania in the summer of 2023.
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