Serbia signs green energy, gas agreements with Azerbaijan

BELGRADE - Serbian Minister of Energy and Mining Dubravka Djedovic Handanovic and Azebaijani Energy Minister Parviz Shahbazov signed a MoU on bilateral cooperation in the field of green energy in Belgrade on Thursday.

Serbian gas company Srbijagas and Azerbaijan's oil and gas firm SOCAR also signed an agreement under which Serbia will be receiving up to 1 mln cubic metres of gas a day from Azerbaijan.

"Last year in Baku, we signed a memorandum between the two ministries as well as agreements between our gas companies under which Serbia will get up to 400 mln cubic metres of gas a year until 2026, after which the quantities may be increased to 1 bln cubic metres," Djedovic Handanovic said at the Palace of Serbia.

She said Thursday's meeting with Shahbazov had been a good opportunity to reaffirm and advance the relations between the two countries in the energy sector and the field of green energy.

"This document opens up ample possibilities for cooperation in the process of energy transition, including joint investments in green energy, application of new green technologies, carbon catchment and storage technologies, e-mobility, energy storage and other areas. That way, the Serbia-Azerbaijan cooperation in the energy sector is becoming comprehensive and strategic, greatly contributing to advancement of our bilateral relations," Djedovic Handanovic said.

Shahbazov said energy cooperation between the two countries had seen major progress in the past months and years, and noted that the signed agreements enabled a further increase of gas supplies from Azerbaijan as well as an expansion of the cooperation in energy transition.

"That will give us another opportunity to expand the cooperation in the area of energy transition," Shahbazov said, adding that the possibility of Serbia becoming a part of a green corridor between the Caspian region and southeastern Europe had been discussed as well.