Following the 2022 crisis, the European energy market entered a phase of structural transformation.
Energy
Rising global energy prices are set to strengthen Azerbaijan’s macroeconomic position in 2026, with higher export revenues driving current account and fiscal surpluses.
Azerbaijan was the largest exporter of oil to Czechia last year, accounting for more than 42 percent of the latter’s total oil imports, according to data released by the Czech Ministry of Industry and Trade on Wednesday.
Azerbaijan has sent another large batch of diesel fuel to Armenia, with nearly 900 tons departing from Baku on April 11.
Italy is talking to several countries, including the United States, Azerbaijan and Algeria, to secure gas supplies now that Iranian strikes on Qatar appear to have halted its exports for an extended period.
The Kulevi terminal owned by Azerbaijan’s State Oil Company (SOCAR) has been included in the European Union’s forthcoming 20th package of sanctions against Russia
The figures are the latest example of Israel continuing trade with businesses in countries where governments condemn its reported actions in Gaza.
Gas supply via Italy ‘further expands geographical reach of Azerbaijani gas in Europe,’ says SOCAR, adds total number of countries receiving Azerbaijani gas rises to 16.
Baku has continued efforts to strengthen its long-term presence in European energy markets. A new natural gas supply agreement was signed between SOCAR and Hungary’s MVM Group, set to take effect on January 1, 2026, and valid for two years.
In the coming years, Austria and, with a high degree of probability, the Czech Republic may join the list of countries purchasing Azerbaijani natural gas.
Azerbaijan plans to start gas deliveries to another two European countries in 2026, bringing the total number of countries importing its gas to 16, Azerbaijani President Ilham Aliyev said.
According to the agreement, 2.25 billion cubic meters of gas will be supplied annually from the Absheron field in the Caspian Sea for 15 years.
Azerbaijan's state energy company SOCAR on Tuesday announced it had signed an agreement to buy a natural gas-fired power plant in central Türkiye for $225 million.
Türkiye is ready to engage in all forms of cooperation with Azerbaijan on renewable energy investments and the green transition, Vice President Cevdet Yılmaz said on Tuesday.
Hungary continues to receive the bulk of its oil from Russia through the Druzhba pipeline and its gas via TurkStream.
In January–September 2025, Azerbaijan’s revenues from main oil pipelines totaled 764.5115 million manats, a 3.6% decrease compared to the same period last year.
Experts view this deal as a significant step toward strengthening the strategic energy partnership between the UAE and Azerbaijan.
Italian energy services major Saipem has been awarded three new offshore contracts for the Shah Deniz Compression project operated by supermajor BP in Azerbaijan.
Israeli businessman Aaron Frenkel has expanded his stake in Tamar Petroleum (TASE: TMRP), a partner in the Tamar offshore gas field.
Several Azerbaijani government agencies have strengthened bilateral ties with their Japanese counterparts by signing a series of memorandums of understanding aimed at expanding cooperation across key sectors.
The State Oil Company of Azerbaijan (SOCAR) signed a contract with the Italian company MIP S.p.A, a subsidiary of Italiana Petroli S.p.A.
The State Oil Company of Azerbaijan (SOCAR) and its subsidiary SOCAR Trading have acquired the assets of Italiana Petroli, including two refineries, more than 4,500 filling stations across Italy, and a logistics network.
Türkiye and Azerbaijan aim to diversify and deepen their energy cooperation, opening new horizons for mutual benefit.
Ambassador Extraordinary and Plenipotentiary of Belarus to Azerbaijan Dmitry Pinevich has visited the town of Sheki, BelTA learned from Embassy of Belarus in Azerbaijan.