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.
