Azerbaijan and Serbia sign gas supply contract

Strategically important documents on cooperation in the field of natural gas have been signed between Azerbaijan and Serbia. This was announced on November 15 by the Minister of Energy Parviz Shahbazov in his account on the social network "X".

Shahbazov met with a Serbian delegation headed by Minister of Mining and Energy Dubravka Djedovic Handanovic in Baku on Wednesday.

During the meeting, a Memorandum of Understanding was signed between the Ministry of Energy of Azerbaijan and the Ministry of Mining and Energy of Serbia on the development of cooperation between SOCAR and Srbiyagaz. These companies also signed an agreement on the sale of gas between SOCAR and "Srbiyagaz".

"Azerbaijan and Serbia have signed strategically important documents on cooperation in the field of natural gas. As a result of the annual supply of 400 million cubic meters of gas, Serbia will become a new partner of Azerbaijan in diversifying the gas market in Europe. The role of our country in the energy security of Europe is growing," Shahbazov said.

 An informed source clarified Turan  that the contract is non-binding, allowing for gas to be supplied to Serbia upon request as needed. Furthermore, in cases of infrastructure challenges, SOCAR Trading has the flexibility to fulfill contractual obligations with gas sourced from third countries. This approach mirrors agreements Azerbaijan has in place with Romania and Hungary, where Romanian demand for Azerbaijani gas in 2023 was not required, and Hungary received gas from SOCAR Trading during the summer due to a lack of direct infrastructure connecting them to Azerbaijan.