Romgaz and SOCCAR Trading have signed a new contract from the supply of natural gas from Azerbaijan to Romania

Romanian natural gas producer Romgaz and SOCAR Trading, a subsidiary of State Oil Company of Azerbaijan (SOCAR), have signed a new contract from the supply of natural gas from Azerbaijan to Romania.

The signing of the contract represents a continuation and strengthening of the good cooperation between the two companies and of the contractual relationship based on a framework agreement concluded in November 2022 on unlimited terms.

The contract envisages the possibility of gas deliveries up to 1 billion cubic meetrs until March 2024 and shall enter in force on 1 April 2023, thus prolonging the contractual framework established by the first individual contract concluded by the companies at the end of last year.

In October 2022, Romgaz also signed a Memorandum of Understanding with SOCAR to explore the opportunity of jointly developing a liquefied natural gas (LNG) project in the Black Sea.