The State Oil Company of the Azerbaijani Republic (SOCAR) and Srbijagas signed an agreement on the supply of Azerbaijani gas to Serbia on Novermber 15, the Azerbaijani Energy Ministry said.
Azerbaijani Energy Minister Parviz Shahbazov and Serbian Mining and Energy Minister Dubravka Djedovic Handanovic signed the agreement following a meeting in Baku.
"Serbia has become Azerbaijan's new partner in the European gas market's diversification. Serbia will become the eighth buyer of Azerbaijani gas thanks to the supply of up to 400 million cubic meters of gas per year from Azerbaijan," Shahbazov said.
Djedovic Handanovic said the agreement envisaged the supply of up to 400 mcm to Serbia in 2024 with the possibility of increasing these volumes in subsequent years.
The Energy Ministry said that following the meeting, the ministers also signed a memorandum between the Azerbaijani Energy Ministry and Serbian Mining and Energy Ministry to promote cooperation between SOCAR and Srbijagas.
