WEC Italy Sec.-Gen.: Co-op with Azerbaijan strengthens energy supply security

Engagement with Azerbaijan is key to ensuring the security of energy supplies and increasing the flexibility of Italy's energy system, Michele Vitiello, Secretary General of the World Energy Council Italy, told Euronews, Report informs.

In his opinion, the European Commission's approval of the acquisition by the State Oil Company of Azerbaijan (SOCAR) of 99.82% of the shares of the Italian company Italiana Petroli from API Holding indicates that the agreement fully aligns with EU competition rules and broader market principles.

"This acquisition highlights the attractiveness of Italy's energy sector for foreign investment and signals confidence in the country's stability. The European Commission's favourable assessment further confirms that this is the path being pursued, fully consistent with the EU framework," he said.

Vitiello added that maintaining openness to international capital, within a free-market logic, remains essential alongside strengthening Italy's energy autonomy.

"In this context, strategic alliances and diversification with reliable partner countries, including key energy suppliers such as Azerbaijan, which plays a central role in the broader Mediterranean energy architecture, remain fundamental to consolidating supply security and system flexibility," he continued.

He noted that stronger commercial ties between partner countries can also reinforce cooperation and resilience in a complex geopolitical environment.

The agreement to purchase 99.82% of Italiana Petroli shares between SOCAR and API Holding was signed on September 23, 2025.

This acquisition is an important step in expanding SOCAR's presence in the European energy market and will also contribute to strengthening Azerbaijan's economic and energy cooperation with Italy, as well as energy security and sustainable development in Europe.

The European Commission noted that the acquisition would not raise competition concerns, given the limited market position it will have as a result, and therefore, the review was carried out under the simplified merger procedure.