BAKU, Azerbaijan - Transit shipments linked to Vietnam and moving through Azerbaijan increased about sevenfold in the first nine months of 2026 from the same period a year earlier, Azerbaijan’s Energy Ministry said on Oct. 16.
The figure was discussed at a meeting between Energy Minister Parviz Shahbazov and Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang, according to Report and APA, citing the ministry.
Vietnam-related transit had already risen more than threefold in 2025 compared with 2024. The roughly 600% increase reported for January through September 2026 is equivalent to shipments becoming about seven times larger. The ministry did not disclose the absolute cargo volume, so the figure refers to growth on the Vietnam route rather than to all transit through Azerbaijan.
The two sides also reviewed energy cooperation. Azerbaijan has supplied more than 1.1 million metric tons of crude oil to Vietnam since 2023, and officials discussed continuing deliveries to Vietnamese refineries.
They also considered broader cooperation between SOCAR and PetroVietnam, including exploration, field development, refining, petrochemicals and oilfield services.
Liquefied natural gas supplies to Vietnam were another topic, but officials did not announce a contract, volume, start date or source for any potential cargoes. The talks therefore do not amount to the launch of Azerbaijani LNG exports.
Other projects under discussion included a solar power plant in Nakhchivan and wind generation near Baku involving Vietnam’s ROX Group. The sides discussed possible implementation and the next stage under an existing memorandum; no power project was reported as commissioned.
Seven companies with Vietnamese capital currently operate in Azerbaijan. Officials also discussed completing an agreement on the promotion and mutual protection of investments and holding the next meeting of the bilateral Business Council.