New gas agreement between Azerbaijan, Romania enters into force

The agreement signed between the State Oil Company of Azerbaijan (SOCAR) and the Romanian Romgaz S.A. on the supply of Azerbaijani gas to Romania from April 1, 2023, through April 1, 2024, has entered into force.

The agreement on the supply of up to one billion cubic metres of gas from Azerbaijan to Romania during 2023-2024 was signed as part of the ninth meeting of the Advisory Council on the Southern Gas Corridor project in Baku on February 3, 2023, Report informs.

It is a continuation of the documents signed between SOCAR and Romgaz S.A. on October 19 and December 16, 2022.

SOCAR signed a spot short-term contract with Romgaz S.A. on December 16, 2022, for the supply of up to 300 million cubic metres from January 1 through April 1, 2023. The daily volume of supplies was up to 4.2 million cubic metres.

The contract envisaged the transportation of natural gas via the Interconnector Greece-Bulgaria (IGB) from the Komotini interconnection point in Greece of the Trans-Adriatic Pipeline (TAP), further along, the Romanian part of the BRUA gas pipeline (Bulgaria - Romania - Hungary - Austria).

The BRUA project beginning in Giurgiu city in southern Romania and ending in Recas city in north-western Romania (near Timisoara) was put into operation in 2020.

It should provide Hungary and Austria with natural gas from the Caspian region.

This year Hungary intends to purchase about one billion cubic metres of Azerbaijani gas per year.