Baku: SOCAR and Germany’s state-owned energy company SEFE (Securing Energy for Europe) have signed a significant 10-year agreement for the sale of natural gas, as reported by SOCAR to APA. Under this agreement, SOCAR will supply natural gas volumes to SEFE in Europe, with the annual supply gradually increasing to 15 TWh, equivalent to approximately 1.5 billion cubic meters.

According to Azeri-Press News Agency, this collaboration will facilitate investments in production and infrastructure, including the development of gas compressors, enabling the delivery of more pipeline gas to Europe. This initiative aims to enhance energy security across the continent.

Dr. Egbert Laege, CEO of SEFE, highlighted the agreement as a testament to the robust relationship between Germany and Azerbaijan. He emphasized the creation of a new route for substantial gas volumes to reach Europe, thereby diversifying SEFE’s portfolio and bolstering supply security for customers.

Rovshan Najaf, President of SOCAR, remarked on the agreement as a crucial milestone in SOCAR’s commitment to strengthening Europe’s energy security. By providing reliable and substantial natural gas volumes to SEFE, SOCAR is reinforcing the partnership between Azerbaijan and Germany, contributing to Europe’s energy diversification goals and sustainable growth. Najaf reaffirmed SOCAR’s dedication to investing in infrastructure and production capacities to ensure secure and uninterrupted energy supplies for partners.