Virgil-Daniel Popescu: Romania confident in extending gas supply contract with Azerbaijan beyond 2024

Virgil-Daniel Popescu: Romania confident in extending gas supply contract with Azerbaijan beyond 2024

Romania is confident in extending the gas supply contract with Azerbaijan beyond 2024, Virgil-Daniel Popescu, Romanian Energy Minister, said in an exclusive interview, according to Azerbaijan in Focus, reporting Trend News.

He recalled that ROMGAZ and SOCAR entered into contractual arrangements starting at the beginning of this year.

“Such contractual arrangements formed the basis for a constructive joined work and proved to be a new milestone for strengthening the good cooperation relationship between the two companies. Therefore, we are confident that such cooperation will be extended beyond 2024, not only by entering into new gas supplies contracts but also into other potential projects of mutual interest,” added the minister.

Popescu noted that Romania and the Republic of Azerbaijan have a long tradition in terms of energy cooperation relations.

“The Strategic Energy Partnership has strengthened and expanded year by year. Last year, the two countries had an extremely consistent bilateral dialogue and signed important documents regarding the implementation of some strategic energy projects. Romania appreciates the active participation of Azerbaijan in joint efforts to strengthen Europe’s energy security, especially in this challenging energy context, through its key role in developing the Southern Gas Corridor and its commitment to increase the Azerbaijani gas volumes for the European market,” he said.

On February 3, 2023, SOCAR, Azerbaijan’s state oil company, and Romgaz S.A., Romania’s energy company, signed a gas supply agreement during the Southern Gas Corridor Advisory Council’s meeting in Baku. The agreement outlines the transportation of 1 billion cubic meters of gas from Azerbaijan to Romania from 2023 to 2024.

This contract builds upon previous agreements signed by the two companies on October 9 and December 16, 2022, which established the legal framework for energy relations between Azerbaijan and Romania. These documents not only expand Azerbaijan’s export opportunities but also contribute to enhanced cooperation, Europe’s energy security, and the promotion of green energy strategies.