Azerbaijan accounts for large part of Israel’s oil imports

By Azernews

By Ayya Lmahamad

Azerbaijani oil makes up a significant share of Israel’s oil imports with the country providing for Israel’s energy security, Energy Minister Parviz Shahbazov said during the meeting with Israel’s Ambassador George Deek on June 16.

The minister also said that Israel is Azerbaijan’s important partner. High on the agenda of the meeting was the further development of cooperation in the energy field.

The sides discussed the projects and future plans implemented in the energy field in Azerbaijan, including in the liberated territories. In addition, the sides noted the potential for cooperation with Israeli companies with advanced experience and technologies in the renewable energy and energy efficiency fields.

The importance of encouragement of Israel`s companies to participate in the renewable energy auctions to be held in the country in the future was emphasized.

Additionally, the parties discussed the exchange of information and experience in relevant areas and a number of other issues of mutual interest.

Azerbaijan and Israel have been expanding bilateral cooperation over the years. Earlier it was reported that Azerbaijan will open trade and tourist offices in Israel in the near future.

Israel was among the first countries to voice support to Azerbaijan over its just position and its territorial integrity during the 44-day Second Karabakh War. In January, Azerbaijan expressed its willingness to involve Israel in the restoration of the country’s newly-liberated territories. Thus, Israel will build a buffalo farm in Azerbaijan’s liberated Zangilan region. The farm will be initially for 300-400 cattle heads and then be increased to 1,000 cattle heads. Buffalos in the farm will be imported from Italy. The project manager stressed that the business idea is to realize a full equipment buffalo dairy farm for high-quality production of mozzarella burrata and other buffalo cheeses in the Zangilan region.

The volume of bilateral trade reached $287.8 million in the first five months of 2021, with an export accounting for $277.6 million and import for $10.2 million. In addition, Azerbaijan is currently the largest supplier of energy to Israel. Oil and oil products are delivered to Israel through the Turkish port of Ceyhan via the Baku- Tbilisi- Ceyhan pipeline.