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Business Visit of SOCAR Delegation to Japan Successfully Ended

Source: www.gulfoilandgas.com 7/11/2015, Location: Asia

SOCAR delegation led by the Companyís President Rovnag Abdullayev paid a business visit to Japan on July 7-9. Within the business visit, there were held meetings with Mr. Tatsuo Yasunaga, President and Chief Executive Officer of Mitsui Corporation, Mr. Takeshi Kanamori, Executive Managing Officer at Mitsui Co and other officials on July 9. During the meetings, it was stated that Mitsui Corporation first started to operate in Baku Air Conditioner Plant in Azerbaijan about 40 years ago and later was involved in a number of energy projects in the country.

Mitsui Corporation officials expressed the Companyís interest in further expansion of activities in Azerbaijan. SOCAR representatives spoke about the upcoming projects to be realized in Azerbaijan, including new Oil and Gas Processing and Petrochemical Complex (OGPC) project, as well as possible cooperation prospects between the two companies.

Afterwards, SOCAR President met with Mr. Yoshio Nakamura, a special adviser to Prime Minister and Adviser of Japan Business Federation and other officials of the Federation. During the event, the attendees discussed the current state of bilateral relations between Japan and Azerbaijan, development prospects of these relations, current and future energy projects to be realized in Azerbaijan, including active involvement of Japanese companies in OGPC project.

The same day SOCARís delegation visited Japanese Export Credit Agency-Japan Bank for International Cooperation (JBIC). The meeting was attended by Mr. Hiroshi Watanabe, Governor and Chief Executive Officer of JBIC, and others. SOCAR President thanked the Bank management for active role in financing the STAR Refinery built by SOCAR in Turkey.

Following the 48th annual meeting of Asian Development Bank held in Baku, the sides discussed the cooperation in financing the investment projects carried out by SOCAR, including involvement of Japanese capital by bank in financing the OGPC project, as well as participation opportunities of Japanese companies in the OGPC project and other issues.

At the end of the visit, SOCAR President Rovnag Abdullayev and SOCARís delegation met with Mr. Yoichi Miyazawa, Japanese Minister of Economy, Trade, and Industry, and Mr. Takayuki Ueda, Japanese commissioner at the Agency for Natural Resources and Energy.

The participants touched upon the current state of Japanese-Azerbaijani relations and pointed out the opportunities of further expansion of the relations. The meeting discussed the development of bilateral economic relations, opportunities of Japanese companies to invest in Azerbaijani oil industry, as well as SOCARís present and upcoming projects, to involve in Oil and Gas Processing and Petrochemical Complex project, and other issues.

The Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Japan Gursel Ismayilzadeh also attended the meetings.

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