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Baku Energy Forum - We are interested in obtaining hydrocarbons from Azerbaijan

We are interested in obtaining hydrocarbons from Azerbaijan

02.06.2022

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Zorana Mihajlovic, Deputy Prime Minister and Minister of Mining and Energy of Serbia:

I am coming to Baku for the third time for negotiations on cooperation. I also took part in the opening ceremony of Oil and gas exhibition and the first day of the energy forum.

We signed a Declaration on Strategic Partnership with Azerbaijan, and our economic ties and trade cooperation are growing year by year. Several Azerbaijani companies are successfully operating in Serbia.

We see the potential for developing cooperation on infrastructure and agriculture projects.

Baku Energy Week is a very important event for us, because we are interested in obtaining hydrocarbons from various sources, including Azerbaijan.

Today, Serbia is dependent on the Russian supplier of natural gas, and is determined to receive "blue fuel" from other countries, which is in line with the energy security strategy.

We have a three-year contract with Gazprom of the Russian Federation for the supplies of 2.2 billion cubic meters per year, and consumption in the country is 3-3.2 billion cubic meters per year.

When there is only one supplier, there is no price competition, and such dependence is not right.

Therefore, Serbia is building Serbia-Bulgaria gas interconnector for new suppliers.

Construction will be completed in September 2023, and we hope that 20 to 40% of our needs will be covered from alternative gas sources.

If Azerbaijan will deliver to us any volumes through the interconnector, we will welcome it.

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