Energy Crisis

Serbia seals the deal with Azerbaijan for gas supply

serbia azerbaijan natural gas memorandum djedovic

Photo: Emilija Jovanović


November 15, 2023






November 15, 2023





Serbia’s gas company Srbijagas and Azerbaijan’s oil and gas company SOCAR signed a contract for the delivery of 400 million cubic meters of natural gas by the end of 2024. It would be the first delivery of the fuel from Azerbaijan to Serbia. The two countries have also signed a memorandum of understanding on energy cooperation.

Serbia consumed three billion cubic meters of natural gas in 2022, of which the majority was supplied by Russia’s Gazprom. However, the Balkan country is finishing an interconnector with Bulgaria that will enable import diversification and allow the possibility to buy pipeline gas from other countries, including Azerbaijan, or liquified natural gas (LNG).

Serbia said the memorandum of understanding was signed in Baku by Minister of Mining and Energy Dubravka Đedović Handanović and Azerbaijani Minister of Energy Parviz Shahbazov.

After 2026, Serbia could raise imports to one billion cubic meters

According to Đedović Handanović, the deal deepens bilateral cooperation between Serbia and Azerbaijan in energy and ensures the supply of 400 million cubic meters per year by 2026. After that, Serbia could raise the imports to one billion cubic meters, Đedović Handanović said.

She added Azerbaijan would become Serbia’s gas supplier after the gas interconnection with Bulgaria is finished, and that it would be completed within days.

The cooperation with Azerbaijan represents the strategic goal of diversifying supplies and further strengthens Serbia’s position as a transit country for gas supply to Central European countries, she stressed.

Serbia’s gas consumption is expected to grow to four billion cubic meters by 2030

The memorandum, in her words, 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 gas storage facilities

Serbia’s gas consumption is expected to grow from three billion cubic meters in 2022 to four billion by 2030, she said.

The Minister of Energy of Azerbaijan Parviz Shahbazov stressed that the documents signed with Serbia establish the basis for multilateral cooperation in the sector of gas, including the first-ever supply of natural gas from Azerbaijan to Serbia.

Serbia is a new partner of Azerbaijan in diversifying the gas market in Europe, he said. Shahbazov stressed that Serbia is the eighth country supplied with natural gas by Azerbaijan.

Azerbaijan is expanding its mission as a reliable energy partner that contributes to energy security, Shahbazov added.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Europe’s first ammonia-fuelled power plant will be open in Ireland

Europe’s first ammonia-fuelled power plant to be built in Ireland

07 December 2023 - The use of low-carbon ammonia as a fuel can contribute to the security of power supply and the reduction of greenhouse gas emissions

montenegro electrcity export energy balance bih hpp piva

Electricity becomes Montenegro’s biggest export item

07 December 2023 - Photovoltaic output increased fivefold, however it was 50% below plan, according to the Energy Balance of Montenegro for 2024

Bulgaria EUR 8 2 million Stara Zagora hydrogen valley

Bulgaria earmarks EUR 8.2 million for Stara Zagora hydrogen valley

07 December 2023 - Minister of Innovation and Growth Milena Stoycheva said the Stara Zagora hydrogen valley project would get EUR 8.2 million in EU funds

Italy rely SMRs nuclear power revival

Italy to rely on SMRs in its nuclear power revival

07 December 2023 - Italy has earmarked EUR 135 million for nuclear energy research, aiming to focus on SMRs instead of conventional reactors