Ambassador: Azerbaijan invested approximately 2.5B euros in Italian economy

Azerbaijani investments in Italy total approximately €2.5 billion, Azerbaijani Ambassador to Italy Rashad Aslanov said at the "From the Caucasus to the Mediterranean" conference in Rome, Report informs.

The diplomat recalled that last year, the State Oil Fund of Azerbaijan (SOFAZ) invested €34.5 million in Italo - Nuovo Trasporto Viaggiatori S.p.A (Italo), Italy's leading high-speed rail operator – ed.).

"This was the first such step. Furthermore, in the renewable energy sector, SOFAZ acquired approximately 50% of Enfinity Global Inc., a company implementing projects in Italy. Solar power plants with a total capacity of 400 MW are being built [through these investments] in the Emilia-Romagna and Lazio regions," the ambassador said.

Aslanov emphasized that Italy is Azerbaijan's main trading partner.

"Italy accounts for 65% of Azerbaijan's trade turnover, 45% of which is in the energy sector. Azerbaijan is Italy's number one oil supplier and its number two natural gas supplier. Some 17% of Italy's gas needs are met by supplies from Azerbaijan," he said.

The ambassador emphasized that, since January 2026, Italy has become not only a gas recipient but also a transit country: "Azerbaijani gas has begun to be delivered to Germany and Austria. This adds value to the work accomplished over the past ten years."