Horlemann: Energy - key area of ​​Baku-Berlin cooperation

The energy sector is an important factor in the development of trade and economic relations between Azerbaijan and Germany, German Ambassador to Azerbaijan Ralf Horlemann said at a farewell meeting with Azerbaijani journalists, Report informs.

According to him, in addition to importing Azerbaijani oil, three German companies have already signed gas supply contracts with the State Oil Company of Azerbaijan (SOCAR).

The diplomat noted that Germany does not receive Azerbaijani gas directly due to the lack of a pipeline connection between the two countries.

"However, the gas supplied by Azerbaijan to the EU primarily goes to Italy and is then sold on the single European energy market. Through various swap transactions between countries and energy companies, Germany indirectly consumes Azerbaijani gas, primarily through swaps with Italy and Austria," Horlemann said.

According to him, this contributes to the stabilization of the European energy market and helps reduce the burden on it following the outbreak of the Russian-Ukrainian conflict and disruptions to shipping through the Strait of Hormuz.

The ambassador also noted that trade relations between Germany and Azerbaijan remain balanced.

"Azerbaijan's main export to Germany is oil, while Germany supplies Azerbaijan with machinery, equipment, electronics, and automobiles," he added.