16:29 - 15.11.2023

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November 15, Fineko/abc.az. Strategic documents on cooperation in the energy sector have been signed between Azerbaijan and Serbia, ABC.AZ was informed at the Ministry of Energy.

A meeting was held between Energy Minister Parviz Shahbazov and a delegation led by Minister of Mining & Energy of Serbia Dubravka Djedović Handanović, who is on a visit to our country.

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 cu m 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 Djedović Handanović 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 meters of gas in the next year, and we expect these volumes to increase further in the coming years."

Within the meeting, “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 agreement on gas sales between SOCAR and Srbijagas were signed.

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 and the company's participation in gas trading operations, as well as in the construction of a gas power plants.