TODAY.AZ / Business

Serbia switches to Azerbaijan gas

05 December 2023 [14:35] - TODAY.AZ
Abbas Ganbay

Serbian Mining and Energy Minister Dubravka Djedovic said during a visit to the Serbia-Bulgaria gas pipeline that all works on this "strategically important project for the Republic of Serbia" have been completed. This gas pipeline is planned to be used to transfer the gas flow from Azerbaijan, Azernews reports.

Djedovic recalled that an interconnection agreement had been signed with Bulgartransgaz, and a commercial agreement had been signed for the supply of up to 400 mln m3 of gas from Azerbaijan by the end of next year.

"I am glad that we will make the commissioning of the new gas pipeline official during the bilateral visits of Azerbaijani President Ilham Aliyev and Bulgarian President Rumen Radev, which is important in connection with the strengthening of relations with these countries, and above all with Azerbaijan, from which we will supply up to 400 mln m3 of gas per year until 2026, and from 2027 these volumes may triple," the minister said.

Southern Gas Corridor started transportation of Azerbaijani gas to Europe on December 31, 2020. It transports gas from the Caspian Sea region to European countries through Georgia and Türkiye.

This large-scale project is aimed at the diversification of energy supply routes and sources, thereby contributing to strengthening Europe’s energy security. The project’s cost totaled $33 billion, as compared to the forecast of $45 billion. Capital expenditures on the SGC project are expected to be fully reimbursed within 8-10 years.

In addition, the pipeline will allow Serbia to access the TAP and TANAP gas pipelines, and the construction will be physically completed in mid-November. The Serbian government has also signed a Memorandum of Understanding with Azerbaijan, which will enable deliveries of up to 400 million cubic meters of gas from Azerbaijan to Serbia by the end of next year.

The completion of the Serbia-Bulgaria gas pipeline is a major milestone for Serbia and will provide the country with greater energy security and access to new sources of gas.

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