Ukraine’s Naftogaz Group Signs Gas Purchase Agreement with SOCAR

Ukraine’s state-owned energy company Naftogaz Group has signed an agreement with the Ukrainian subsidiary of the State Oil Company of the Republic of Azerbaijan (SOCAR) for the purchase of natural gas.

Thanks to what the Ukrainian player says is its first deal with SOCAR’s affiliate, a test shipment of gas was delivered through the Transbalkan route along the Bulgaria–Romania–Ukraine corridor for the first time.

Sergii Koretskyi, Chief Executive Officer (CEO) of Naftogaz, noted: “This is a small volume but strategically important step that paves the way for long-term cooperation. It is also another example of diversifying supply sources and strengthening Ukraine’s energy security.”

This follows another natural gas deal SOCAR inked last month, when it was the natural gas provider of choice for Germany’s SEFE.

Meanwhile, the Ukrainian player is working on boosting the country’s energy security with liquefied natural gas (LNG) deals. The country is slated to welcome volumes of U.S.-sourced LNG thanks to a deal signed with Poland’s Orlen.