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March 27, 2023

Romgaz, Socar Trading sign new individual contract for delivery of Azerbaijani natural gas to Romania

Romgaz National Gas Company (SNGN) and Socar Trading, a subsidiary of the national oil company of the Republic of Azerbaijan signed on Friday in Baku a new individual contract for the delivery of Azerbaijani natural gas to Romania.

“The signing of this contract once again proves the excellent cooperation between SNGN ROMGAZ SA and SOCAR, a cooperation initiated at the beginning of last year and formalized by signing a Memorandum of Understanding in June 2022. The parties plan to continue their cooperation relationship for the enhancement of the mechanisms for natural gas deliveries from Azerbaijan to Romania as well as with the aim of exploring new cooperation possibilities for implementing energy projects of mutual benefits,” according to a Romgaz release.

“In order to ensure our country’s consumption need, today, I have participated in the signing ceremony of a new individual contract for the delivery of Azerbaijani natural gas to Romania, between the SNGN Romgaz SA and Socar Trading, the subsidiary of the national oil company of the Republic of Azerbaijan. The contract provides for the possibility of delivering quantities of up to 1 billion cubic meters until 31 March 2024 and will enter into force on 1 April 2023, thus extending the contractual framework established by the first individual contract concluded by the companies at the end of last year,” Minister of Energy Virgil Popescu wrote on his Facebook page.

According to him, the cooperation between Romania and Azerbaijan in the energy area includes several levels, namely gas, LNG and green energy.

“At the same time, we discussed in detail the joint projects that Romgaz and Socar are developing,” Virgil Popescu underscored.

The contract signing ceremony was attended by Minister of Energy Virgil Popescu, Azeri Minister of Economy Mikayil Jabbarov, President of Socar Rovshan Najaf, Romgaz Interim CEO Razvan Popescu, Romgaz Interim Deputy CEO Aristotel Jude and Secretary of State George Niculescu.

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