Baku: The State Oil Company of the Republic of Azerbaijan (SOCAR) and the Egyptian General Petroleum Corporation (EGPC) have entered into a framework agreement that covers the supply of liquefied natural gas (LNG), crude oil, and petroleum products, as well as investments, training, and education programs.

According to Azerbaijan State News Agency, Natig Mustafayev, CEO of SOCAR Trading, stated that SOCAR Trading has been supplying LNG to Egypt for the past nine months. He mentioned that the agreement, which spans two and a half years, aims to expand energy cooperation between SOCAR and EGPC.

Mustafayev also highlighted SOCAR's intention to deepen its cooperation with Egypt. He noted that possibilities for oil refining in Egypt and the export of Azeri Light crude oil to the country are being explored. Both parties are committed to accelerating the development of their cooperation through the recently signed framework agreement.