Serbia’s gas company Srbijagas and Azerbaijan’s oil and gas company SOCAR have signed a contract for the delivery of 400 million cubic meters of natural gas by the end of 2024, marking the first delivery of fuel from Azerbaijan to Serbia. The two countries also signed a memorandum of understanding on energy cooperation. Serbia consumed three billion cubic meters of natural gas in 2022, with the majority supplied by Russia’s Gazprom. The Balkan country is finishing an interconnector with Bulgaria, enabling import diversification and the possibility to buy pipeline gas from other countries, including Azerbaijan or liquified natural gas (LNG). The memorandum of understanding was signed in Baku by Minister of Mining and Energy Dubravka Đedović Handanović and Azerbaijani Minister of Energy Parviz Shahbazov. The cooperation aims to diversify supplies and strengthen Serbia’s position as a transit country for gas supply to Central European countries. Serbia’s gas consumption is expected to grow to four billion cubic meters by 2030. The memorandum also opens up other opportunities for cooperation between the two countries, including the delivery of LNG through terminals in Turkey and Greece, and the construction of gas power plants and storage facilities.
CENTRAL EASTERN EUROPE NEWS
Serbia – Azerbaijan Gas Deal Signed
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