Serbia and Azerbaijan sign agreement on energy and mining cooperation

The governments of Serbia and Azerbaijan have signed an Agreement on Cooperation in the fields of energy and mining. The document outlines that the two countries will collaborate in the areas of natural gas and mining.

According to the Agreement, both states will engage in activities “to develop cooperation and business relations in the fields of energy and mining, in accordance with their national legislation and the principles of mutual benefit.”

Cooperation in the energy sector will include, as stated, the “encouragement” of investments by both countries in energy, particularly in the fields of natural gas and renewable energy sources. Additionally, Serbia and Azerbaijan will exchange information on regulations governing the energy sector, share experiences regarding the latest technologies and innovative solutions applied in the field of energy, and provide updates on energy-related projects.

Furthermore, the two countries will “encourage, establish, and enhance” business connections between companies in the energy sector, particularly to explore the potential for supplying Serbia with gas from Azerbaijan. Efforts will also be made to foster cooperation in energy efficiency and renewable energy sources and to establish joint ventures in the energy sector. Additionally, the two nations will continue collaboration to support the implementation of the Southern Gas Corridor.

Cooperation in the mining sector

Cooperation in mining will include “encouraging investments” by both countries in the exploration of mineral resources, initiating and promoting mutual collaboration between institutions and businesses in basic geological research, and exchanging information on regulations governing geology and mining.

Serbia and Azerbaijan will also exchange experts and share professional experiences in the areas of information systems and geological databases, as stated in the Agreement, which has been published on the Serbian government’s website.

The Agreement has been signed for a period of five years.

It is worth noting that on 8 June 2011, Serbia’s Ministry of Infrastructure and Energy and Azerbaijan’s Ministry of Industry and Energy signed a Memorandum of Understanding on cooperation in the field of energy.

Additionally, in September 2024, an agreement was signed on the delivery of natural gas from Azerbaijan, aiming to reduce dependence on Russian gas.

(Nova Ekonomija, 28.01.2025)