Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Baku, June 10 (Xinhua) — Azerbaijan’s state oil and gas company SOCAR and Germany’s state energy company SEFE (Securing Energy for Europe) have signed a 10-year contract on natural gas supplies, SOCAR said on Tuesday.
According to the document, SOCAR will supply natural gas to Europe for SEFE. The volume of supplies will gradually increase to 15 terawatt-hours /TWh/ annually, which is about 1.5 billion cubic meters of gas.
The agreement will support investment in production and infrastructure, including gas compressors, which will increase pipeline gas supplies to Europe and strengthen the region’s energy security.
“This long-term contract underlines the strong partnership between Germany and Azerbaijan. It opens up a new route for significant volumes of gas to Europe, diversifying our portfolio and increasing security of supply for customers,” said SEFE CEO Egbert Lege.
SOCAR President Rovshan Najaf, for his part, stressed: “The agreement is an important step in strengthening Europe’s energy security. The supply of significant volumes of SEFE gas strengthens cooperation between Azerbaijan and Germany, contributing to energy diversification and sustainable development in Europe.” –0–