Romgaz and Socar Trading, the subsidiary of the national oil company of the Republic of Azerbaijan, signed on February 3, 2023, in Baku, a new individual contract for the delivery of Azeri natural gas to Romania.

“The conclusion of this legal document represents a continuation and consolidation of the good cooperative relations between the two companies and the contractual relations that are based on a framework agreement concluded in November 2022 for an unlimited period,” say Romgaz officials.

The contract provides for the possibility of delivering quantities of up to 1 billion cubic meters until March 31, 2024 and will enter into force on April 1, 2023, thus extending the contractual framework established by the first individual contract concluded by the companies at the end of last year.

This new contractual arrangement thus serves the strategic objectives of natural gas supply security and source diversification.

“The signing of this contract once again demonstrates the excellent collaboration between SNGN ROMGAZ SA and the SOCAR company, a collaboration initiated at the beginning of last year and formalized by the signing of a Memorandum of Understanding in June 2022. The parties propose the continuation of cooperative relations both in terms of perfecting mechanisms for the delivery of Azerbaijani natural gas on the Romanian market as well as for the purpose of exploring new possibilities of collaboration in order to implement mutually beneficial projects in the energy field.”