Serbia becomes 8th European countries purchasing Azerbaijani gas

A meeting was held between Minister of Energy Parviz Shahbazov and a delegation led by Minister of Mining and Energy of Serbia Dubravka Djedovic Handanovic, who is on a visit to Azbaijan, Azernews reports, citing the ministry.

The important role of friendly relations between the Presidents of Azerbaijan and Serbia in the comprehensive development of relations based on strategic partnerships between the two countries was emphasised at the meeting. Extensive cooperation opportunities in the fields of natural gas and electricity were evaluated. It was noted that energy cooperation is of exceptional importance for the development of bilateral relations at a new level, and in this regard, Azerbaijan and Serbia attach great importance to partnerships in the field of natural gas.

Within the meeting, a “Memorandum of Understanding between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Mining and Energy of the Republic of Serbia on promoting cooperation between SOCAR and Srbijagas, as well as an agreement on gas sales between SOCAR and Srbijagas was signed.

Energy Minister Parviz Shahbazov said: "With the documents of strategic importance we signed today, we are laying the foundation for multifaceted cooperation in the field of gas, including gas supplies from Azerbaijan to Serbia for the first time. Serbia is Azerbaijan's new partner in diversifying the gas market in Europe. With the supply of up to 400 million cubic metres of gas per annum to Serbia, the number of countries supplied with Azerbaijani gas will reach 8. This is a clear indication of expanding Azerbaijan's mission as a reliable energy partner and its growing role in energy security. Today's agreements also pave the way for the sustainability of our gas supply partnership with long-term contracts and Azerbaijan's contributions to Serbia's energy security.”

The Minister of Mining and Energy of the Republic of Serbia, Dubravka Djedovic Handanovic said: "Today, Serbia and Azerbaijan have opened a new chapter in their economic and bilateral cooperation by signing a contract on the volumes of gas that Azerbaijan will supply to Serbia. After the supply of Azerbaijani gas to Serbia via the Bulgaria-Serbia Interconnector, which is expected to be commissioned in the near future, we are going to achieve our strategic goal of diversifying our sources of supply for this energy source and further bolstering our role as a transit country for gas distribution to Central Europe. The signed contract outlines the delivery of 400 million cubic metres of gas in the next year, and we expect these volumes to increase further in the coming years."

SOCAR President Rovshan Najaf stressed that the gas contract will open a new page in cooperation between SOCAR and Srbijagas. He noted the importance of successful implementation of the contract in strengthening Serbia's energy security, as well as relations between the two countries and companies.

It should be noted that, in addition to gas supplies, the Memorandum of Understanding provides for the supply of LNG to Serbia, cooperation with SOCAR in gas storage areas, the company's participation in gas trading operations, as well as the construction of gas power plants.