BAKU, Azerbaijan, November 15. Strategic documents on the natural gas supply have been signed between Azerbaijan and Serbia, TurkicWorld reports via the Azerbaijani Ministry of Energy.

Thus, a Memorandum of Understanding outlining cooperation development between the State Oil Company of Azerbaijan (SOCAR) and Srbijagas, the state-owned natural gas provider in Serbia, was signed, along with an agreement for gas sales.

Additionally, the Memorandum of Understanding goes beyond gas supplies, encompassing the potential for supplying LNG to Serbia. It also entails cooperation with SOCAR in relation to gas storage facilities, exploring participation in the company's gas trading operations, and engaging in the construction of natural gas-fired power plants.

The documents were signed within the framework of a meeting between Azerbaijani Energy Minister Parviz Shahbazov and a delegation led by Serbian Minister of Mining and Energy Dubravka Đedović Handanović, who is on a visit to Baku.

"The meeting emphasized the important role of friendly relations between the presidents of Azerbaijan and Serbia in the comprehensive development of relations based on strategic partnerships between the two countries. Wide opportunities for cooperation in the fields of natural gas and electricity were assessed. It was noted that energy cooperation is extremely important for raising bilateral relations to a new level. In this regard, it was stated that Azerbaijan and Serbia attach great importance to partnership in the field of natural gas," the ministry said.

Parviz Shahbazov said that strategically important documents signed today laid the foundation for the first time for multifaceted cooperation in the field of gas, including gas supplies from Azerbaijan to Serbia.

"Serbia is Azerbaijan's new partner in the diversification of the European gas market. As a result of annual deliveries of up to 400 million cubic meters of gas to Serbia, the number of countries supplied with Azerbaijani gas will reach 8. This is vivid evidence of Azerbaijan's expanding mission as a reliable energy partner and its increasing role in ensuring energy security," the minister said.

In turn, Dubravka Đedović Handanović said that today relations between Azerbaijan and Serbia have entered a new stage of bilateral economic cooperation.

"Thanks to the supply of Azerbaijani gas to Serbia through the Bulgaria-Serbia interconnector, which is expected to be put into operation in the near future, we will achieve our strategic goal of diversifying our sources of supply, including strengthening our role as a transit country," she said.

Noting that the signed contract envisages the transportation of up to 400 million cubic meters of gas during the next year, she expressed hope that this volume will increase in the coming years.

SOCAR President Rovshan Najaf emphasized that the gas contract will open a new chapter in cooperation between SOCAR and Srbijagas. He emphasized the importance of the successful implementation of the agreement in strengthening Serbia's energy security as well as relations between the two countries and companies.