BAKU, Azerbaijan, November 15. Serbia hopes for increasing the volume of gas imports from Azerbaijan in the future, said Serbian Minister of Mining and Energy, Dubravka Djedovic Handanovic, as she visited Baku, TurkicWorld reports.

The announcement was made at a ceremony of signing documents on natural gas supplies.

The minister highlighted the evolving stage of bilateral economic cooperation between the two countries. She emphasized the significance of the upcoming Bulgaria-Serbia interconnector, through which Azerbaijani gas will be supplied to Serbia. Dubravka Djedovic Handanovic expressed that this collaboration aims to diversify Serbia's supply sources and strengthen its role as a transit country.

The signed contract outlines the transportation of up to 400 million cubic meters of gas in the next year, with hopes for increased volumes in the subsequent years.

Notably, a Memorandum of Understanding was signed between the State Oil Company of the Azerbaijan Republic (SOCAR) and Srbijagas, along with a Gas Sales Agreement. The memorandum also explores the potential for supplying liquefied natural gas (LNG) to Serbia, cooperation on gas storage facilities, and exploring the potential for participation in the company’s gas trading operations and the construction of natural gas power plants.

Azerbaijan commenced gas transportation to Europe through the Southern Gas Corridor on December 31, 2020, facilitating gas movement from the Caspian Sea region to European nations via Georgia and Türkiye.

In July 2022, Azerbaijan and the EU agreed to double the gas supplies via the Southern Gas Corridor from the current 10 billion cubic meters to 20 billion cubic meters by 2027.