New gas contract enters into force between Azerbaijan and Romania

The contract signed between the State Oil Company of Azerbaijan (SOCAR) and the Romanian Romgaz S.A. on the supply of Azerbaijani gas to Romania from April 1, 2023, to April 1, 2024, has entered into force, Report informs.

This agreement on the supply of gas from Azerbaijan to Romania in the amount of up to 1 billion cubic meters during 2023-2024 was signed on February 3 as part of the 9th meeting of the Southern Gas Corridor Advisory Council in Baku.

It is a continuation of the documents signed between SOCAR and Romgaz S.A. October 19 and December 16, 2022.

On December 16, 2022, SOCAR signed a spot short-term contract with Romgaz S.A. for the supply of up to 300 million cubic meters of gas from January 1 to April 1, 2023. The daily volume of supplies was up to 4.2 million cubic meters. The contract provided for the transportation of natural gas via the Interconnector Greece-Bulgaria (IGB) gas pipeline from the Komotini exit point in Greece of the Trans Adriatic Pipeline (TAP), further along the Romanian part of the BRUA gas pipeline (Bulgaria - Romania - Hungary - Austria).

BRUA project - from the city of Giurgiu in the south of Romania to the city of Recas in the north-west of the country (near Timisoara) - was put into operation in 2020. It should open access for Hungary and Austria to natural gas from the Caspian region. Hungary intends to purchase gas from Azerbaijan in the amount of about 1 billion cubic meters per year from 2023.