SOCAR Trading and Romania’s Romgaz S.A. signed the agreement on gas transportation up to one billion cubic meters of gas from Azerbaijan to Romania in 2023-2024 at the Southern Gas Corridor Advisory Council on February 3, 2023. The new contract will come into force on April 1, 2023 and expands the contractual framework of the first contract signed by the companies late last year on December 16, 2022.

This new set of contracts, which ensures the formation of relations in the energy sector between the two countries, will expand the export geography of Azerbaijani gas, as well as make an important contribution to energy security to further strengthen cooperation between the countries of Europe, thus serving the strategic objectives of security of supply and diversification of gas sources.

Romanian President Klaus Johannis, who attended the opening of the ministerial meeting, stressed that Romania has reaffirmed its continued commitment to the development and expansion of the Southern Gas Corridor to new markets in Central and Southeastern Europe. He also confirmed that Romania is “very interested in buying additional volumes of Caspian gas to meet its growing domestic consumption.”

Azerbaijani President Ilham Aliyev said at the meeting, “First, we signed an agreement on gas supplies from Azerbaijan to Romania, which will start soon. Thus, Romania joins the group of countries participating in the Southern Gas Corridor, we also signed the agreement on production and transportation of green energy between Azerbaijan, Georgia, Hungary and Romania. This is a new page of energy security, which will create additional opportunities for cooperation.