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Serbia Secures New Gas Deal with Azerbaijan

In a move to diversify its energy sources, Serbia has inked a crucial gas supply deal with Azerbaijan. The energy ministries of both nations signed a Memorandum of Understanding, enhancing their energy cooperation. Alongside this, a key commercial agreement was reached between Azerbaijani gas giant SOCAR and Serbia's Srbijagas, which will enable Serbia to receive up to 400 million cubic meters of Azerbaijani gas by the end of the following year.

During the signing in Baku, Serbia’s Energy Minister Dubravka Đedović Handanović highlighted the importance of this agreement. With the imminent completion of the gas interconnection with Bulgaria, Serbia is set to introduce Azerbaijan as a new gas supplier. This agreement builds on the advancements made by the Balkan Stream pipeline, which has already improved the security and diversity of Serbia’s gas supply.

Đedović Handanović emphasized Serbia’s strategic goal to diversify its energy suppliers and boost its role as a key transit hub for gas supplies to Central Europe. The nearing completion of the Serbia-Bulgaria interconnection is a critical step towards leveraging this new Azerbaijani gas source.

Furthermore, the Minister pointed out that the Memorandum paves the way for broader bilateral cooperation. This includes potential deals for liquefied natural gas supplies through terminals in Turkey and Greece, and joint ventures in developing infrastructure for gas-fired power plants and storage facilities.

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