"Serbia is trying to become part of this large value chain that supports energy security and economic development. Serbia is diversifying supply routes by joining the Southern Gas Corridor," she said.
According to the minister, Azerbaijan an supply a third of Serbia's annual gas demand, as one of the main partners in regard to the diversification policy.
"The terms of supply are being discussed in parallel with the construction of a gas hub in the direction of Serbia with a capacity of 1.8 billion cubic meters of gas, which we expect to complete this autumn. We expect the first gas deliveries in early 2023, but it also depends on the speed of commercial negotiations of all parties involved, and we hope to achieve maximum efficiency of gas transportation from Azerbaijan to Serbia as soon as possible," she noted.
Southern Gas Corridor started transportation of Azerbaijani gas to Europe on December 31, 2020. It transports gas from the Caspian Sea region to European countries through Georgia and Türkiye.
This large-scale project is aimed at the diversification of energy supply routes and sources, thereby contributing to strengthening Europe’s energy security. The project’s cost totaled $33 billion, as compared to the forecast of $45 billion. Capital expenditures on the SGC project are expected to be fully reimbursed within 8-10 years.
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