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28.10.2016 10:00

Azerbaijan, South Africa to deepen cooperation in energy sphere

Oil-rich Azerbaijan, which enjoys a huge and successful experience in the energy sector, may share its experience with South Africa.

Azerbaijans Energy Minister Natig Aliyev, who received South African Ambassador Pule Isaac Malefane in Baku on October 27, said that the country is ready to share its experience with South Africa and assist the country in the development of its energy potential.

Aliyev said that the government of Azerbaijan is currently seeking to diversify its economy and enter new markets, while the objective allows the country to develop its cooperation with other countries.

Malefane, in turn, hailed the relations between the two countries, mentioning that South Africa attaches importance to cooperation with Azerbaijan.

South Africas oil and natural gas sectors are overshadowed by the coal industry, as the country possesses abundant supplies of coal that provide for over 70 percent of the countrys primary energy needs. However, the country has so far put considerable efforts to diversify its energy mix, introducing a number of initiatives and programmes to expand oil and gas production.

Oil and gas reserves of the country are located offshore in Bredasdorp Basin, situated in south-east of Cape Town and west-south-west of Port Elizabeth and the Orange Basin, which is believed to hold significant oil and natural gas reserves. The potential has not been fully developed yet.

Moreover, the country is estimated to have the eighth largest shale gas resources in the world. The country has a pioneering role as a gas to liquids (GTL) producer. GTLrefinery at Mossel Bay remains the third largest GTL refinery among the five now operating worldwide.

Azerbaijan has vast experience in the sphere and plays an important role in ensuring energy security both at regional and international scale.

Diplomatic relations between Azerbaijan and theSouth African Republic were established on April 29, 1992. The Azerbaijani embassy in the South African Republic was opened in August 16, 2011.

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