Azerbaijan intends to boost gas exports to Serbia and is interested in collaborating with Belgrade to construct renewable energy power plants, Azerbaijani President Ilham Aliyev said.

“Our overall energy relations are currently developing in a multi-vector format. Some time ago, we began exporting natural gas to Serbia, and today we have decided to increase export volumes. Serbia will now also achieve clean electricity production by converting exported gas into electricity. This creates opportunities both for the Serbian market and for future exports,” Aliyev said during a joint press statement with Serbian President Aleksandar Vucic, as broadcast on Azerbaijan’s AzTV state television.

Aliyev said that Azerbaijan’s current energy export potential is 2 GW.

“This figure will grow, as we are currently constructing numerous renewable energy plants and are ready to cooperate with Serbia in the area. We should have an additional 8 GW of energy capacity by 2032, and most of this will be exported. We must have new and larger-scale electricity transmission capabilities in order to achieve this. Our main export destination is Europe,” Aliyev said.

As reported, the State Oil Company of the Azerbaijan Republic (SOCAR) and the Serbia’s Srbijagas signed an agreement on November 15, 2023, for the supply of Azerbaijani gas to Serbia. The agreement envisages supplying up to 400 million cubic meters of gas per year from Azerbaijan to Serbia in 2024-2026, with the option to increase the volume as of 2027.
Source: Interfax