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Israel and Azerbaijan to ink strategic energy agreement

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Azerbaijan will on Monday sign agreements to explore for natural gas in Israeli waters, highlighting a key strategic alliance between the two countries amid turbulence in the region.

Axar.az reports according to Bloomberg, a consortium of Azeri state company Socar, BP Plc and Israel’s NewMed Energy LP will get the right to explore in one offshore block, in a signing overseen by Azerbaijan Economy Minister Mikayil Jabbarov and Israeli Energy Minister Eli Cohen, according to the Israeli energy ministry.

The agreement gives Socar another foothold in important Israeli assets after the company bought a 10% stake in the Tamar gas field earlier this year.

Date
2025.03.17 / 18:30
Author
Axar.az
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