On 15th November 2023, a meeting between the Azerbaijani and Serbian delegations took place in Baku. Two important documents for future cooperation were signed at this 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 and a Gas Sales Agreement between SOCAR and Srbijagas.

The Memorandum of Understanding promotes cooperation between the two state energy companies of Azerbaijan and Serbia in various directions in the field of natural gas, including gas supplies from Azerbaijan to Serbia, potential gas storage opportunities in Serbia, SOCAR’s participation in gas-fired power plants in Serbia, and more.

The gas sales agreement between SOCAR and Srbijagas will allow gas from Azerbaijan to reach Serbia for the first time via the Bulgaria-Serbia interconnector, which is scheduled to be commissioned in the near future. Annual gas supplies from Azerbaijan to Serbia will amount to up to 400 million cubic metres.

At the meeting, SOCAR President Rovshan Najaf emphasised the importance of the agreement, which opens a new chapter in the cooperation between SOCAR and Srbijagas, and stressed how important the successful implementation of the agreement is for strengthening Serbia’s energy security and bilateral relations between the two countries and companies.

Source: www.socar.az