Serbia explores cooperation with Azerbaijan on Black Sea energy project
Expands gas cooperation

ECONOMICS  01 July 2024 - 16:03

Serbia is considering potential cooperation with Azerbaijan as part of the Black Sea Energy project, which aims to export Azerbaijani electricity to Europe.

In an interview with local media, Dragan Vladisavljević, Serbian Ambassador to Azerbaijan, highlighted this development, Caliber.Az reports.

"Our country is examining the possibility of partnering in the 'green corridor' initiative that Azerbaijan has launched alongside Georgia, Romania, and Hungary," Vladisavljević stated, referring to the Black Sea Energy project.

The ambassador also pointed out the growing gas collaboration between Serbia and Azerbaijan. He noted that the state companies SOCAR and Srbijagas have signed an agreement for the annual import of 400 million cubic meters of Azerbaijani gas to Serbia, with plans to potentially increase this volume to 1 billion cubic meters per year, which would account for one-third of Serbia's total consumption.

Additionally, Vladisavljević emphasized the potential for broader energy partnerships under the current legal framework, including exploring LNG cooperation, SOCAR's involvement in constructing a gas power plant in Serbia, and attracting Azerbaijani investments in new gas storage infrastructure in Serbia.

On December 17, 2022, Azerbaijan, Georgia, Romania, and Hungary signed a strategic partnership agreement in Bucharest for the construction of a Black Sea Energy submarine electric cable. This cable will have a capacity of 1 GW and stretch 1,195 kilometers. Bulgaria announced its participation in the project in June 2023.

Caliber.Az