SEFE Securing Energy for Europe and SOCAR, the state-owned oil company of the Republic of Azerbaijan, have signed a 10-year natural gas supply agreement. Deliveries from SOCAR to SEFE under this agreement will begin in 2025.
The annual volume is to be gradually increased to 15 TWh, equivalent to approximately 1.5 billion m3. The partnership will enable investments in production and infrastructure, such as gas compressors, and increase the amount of pipeline gas delivered to Europe, thus ensuring the continent’s security of supply.
Dr Egbert Laege, CEO of SEFE, commented: «This agreement is a confirmation of the good relations between Germany and Azerbaijan. With this partnership, we are creating a new route for transporting large volumes of gas to Europe, diversifying our portfolio, and increasing security of supply for our customers.»
Rovshan Najaf, President of SOCAR, said: «This agreement represents another significant milestone in SOCAR’s ongoing commitment to strengthening Europe’s energy security. By reliably supplying significant volumes of natural gas to SEFE, we are strengthening the partnership between Azerbaijan and Germany and making an important contribution to Europe’s goals of energy diversification and sustainable growth. SOCAR continues to invest decisively in infrastructure and production capacity to ensure a secure and uninterrupted energy supply for our partners.»
