SOCAR, Romgaz ink gas supply contract

The State Oil Company of the Republic of Azerbaijan (SOCAR) and Romgaz S.A. have signed a contract for gas supply from Azerbaijan to Romania.

The contract envisages scheduled gas transportation starting from 1 January 2023 at the exit point of the Trans-Adriatic Pipeline (TAP) in Greece – Komotini through the Greece – Bulgaria Interconnector (IGB), Azertag reports.

By signing this contract, Azerbaijan secures its gas delivery to a new buyer in Europe. The contract serves the Azerbaijan Government’s strategic plan to diversify gas supplies by creating new bilateral partnerships with various European countries.

The contract was signed in the framework of the Memorandum of Understanding on a Strategic Partnership in the Field of Energy between the European Union and the Republic of Azerbaijan, signed on 18 July 2022 in Baku. One of the main goals of the MoU is to increase deliveries of natural gas to the European Union and, as such, contribute to its energy security.