King Mswati III seeks Azerbaijan investment to develop Eswatini’s oil infrastructure

As the global urban dialogue gears up for the 13th World Urban Forum (WUF13) in Baku, Eswatini’s King Mswati III is making a bold call for investment from Azerbaijan’s State Oil Company (SOCAR) and other mining firms in a strategic bid to advance the Kingdom’s fuel infrastructure. With the Forum’s focus on sustainable urban development, the King’s appeal represents not just an economic initiative but a broader vision for the Kingdom’s energy landscape.

According to the Times of Eswatini, King Mswati is concerned about the unstable and fragile state of affairs in the region and hopes that lasting solutions will be found.

“In Eswatini, we are currently building a Strategic Oil Reserve, which will be able to store fuel for about two months,” he said, expressing enthusiasm for potential partnerships with Azerbaijani companies to expedite the project. “We can even go beyond just the storage facility and build an oil refinery in the long term. We believe as a country we are strategically placed to supply our Southern Africa region, as we are surrounded by two significant neighbours in South Africa and Mozambique in the east.”

The Strategic Oil Reserve project, which the King aims to complete by 2028, and the potential for an oil refinery, underscore the Kingdom’s ambition to establish itself as a vital player in the regional fuel supply chain. If all goes according to plan, Azerbaijan could supply Eswatini with an impressive 10 million barrels of oil annually, significantly bolstering the nation’s energy security and its economic standing in Southern Africa.

Azerbaijan, recognised as a leader in oil and gas production, is ideally positioned to support Eswatini’s vision. The collaboration could provide not only immediate benefits in fuel supply but also foster long-term economic partnerships between the two nations.