A 10-year natural gas purchase agreement has been signed between SOCAR and Germany’s state-owned energy company SEFE (Securing Energy for Europe).
According to the agreement, the gas volumes will be supplied by SOCAR to SEFE in Europe.
The annual supply volume will be gradually increased to reach 15 TWh (terawatt-hours), which is approximately 1.5 billion cubic meters (bcm).
This cooperation will support investments in production and infrastructure, including gas compressors, and will enable the delivery of more pipeline gas to Europe, contributing to the continent’s energy security.
Dr Egbert Laege, SEFE CEO, said: 'This long-term contract is a testament to the strong relationship between Germany and Azerbaijan. With this partnership, we are establishing a new route for significant gas volumes to reach Europe, thereby diversifying our portfolio and increasing the security of supply of our customers.'
Rovshan Najaf, SOCAR President, said: 'This agreement marks another significant milestone in SOCAR’s ongoing commitment to enhancing Europe’s energy security. By supplying reliable and substantial natural gas volumes to SEFE, we are strengthening the partnership between Azerbaijan and Germany, contributing positively to Europe's energy diversification goals and sustainable growth. SOCAR remains dedicated to investing in infrastructure and production capacities, ensuring secure and uninterrupted energy supplies for our partners.'
Source: SOCAR
