Mbabane- His Majesty King Mswati 111 has formally invited the State Oil Company of the Republic of Azerbaijan (SOCAR) to invest in the Kingdom’s planned fuel storage and long-term oil refinery projects.
The proposal was tabled during high-level talks with Azerbaijani President IIham Aliyev in Baku, where the King positioned Eswatini as a strategically located gateway into the regional energy market amid growing global fuel supply uncertainty.
Addressing the meeting, HMK said global instability had exposed the vulnerability of fuel and fertilizer supply chains, creating an urgent need for countries to secure strategic partnership.
“In Eswatini, we are currently building a Strategic Oil Reserve, which will be a store fuel for about two months, and we will be happy to partner with your companies in this project, In terms of supply,” His Majesty submitted.
“We can even go beyond just the storage facility and build an oil refinery in the long term,” the King added.
The proposed refinery forms part of broader efforts by the government of Eswatini to position the nation as a strategic energy hub within the Southern African Development Community (SADC).
His Majesty said the Kingdom’s geographic location provided a competitive advantage for investors seeking access to regional markets.
“We believe as a country we are strategically placed to supply our Southern Africa region as we are surrounded by two big neighbours in South Africa and Mozambique in the east, the King explained.
Ultimately, President Aliyev welcomed the proposal and acknowledged the pressure countries are facing due to ongoing geopolitical tensions affecting global energy supply.
In a direct response, the President subsequently directed his cabinet ministers to assess investment opportunities in Eswatini’s mining and oil refinery sectors.
Aliyev also indicated that SOCAR, which already has multinational operations in countries such as Turkey and Italy, was well positioned to explore expansion opportunities into Africa.
For Eswatini, securing cooperation with a major oil-production nation could significantly accelerate the country’s industrialization agenda while enhancing fuel security.
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