SOCAR and VNG sign Memorandum of Understanding
VNG Handel & Vertrieb GmbH signs Memorandum of Understanding with Azerbaijani state-owned energy company SOCAR
Leipzig/Baku, 25 June 2024: Leipzig-based gas trader VNG Handel & Vertrieb GmbH (VNG H&V), a wholly owned subsidiary of VNG AG, and the State Oil Company of the Republic of Azerbaijan (SOCAR) signed a Memorandum of Understanding (MoU) on the expansion of cooperation in the fields of natural gas and renewable energy sources.
The Memorandum of Understanding will contribute to the development of sustainable energy solutions and the promotion of international cooperation.
The document envisages the exchange of experience on the use of gas infrastructure and investigation of natural gas supply possibilities. According to the memorandum, the parties will also explore opportunities for cooperation on projects involving transition to renewable and decarbonized gases.
About SOCAR
More information: www.socar.az
