BAKU, Azerbaijan, December 5. The start of
natural gas supplies from Azerbaijan to Slovakia is a significant
development that further strengthens Azerbaijan’s position in the
international energy market. These gas deliveries are crucial for
Azerbaijan’s energy security and for enhancing strategic ties with
European countries. They also provide Azerbaijan with an
opportunity to diversify its gas exports and access new markets,
contributing to the sustainable development of the economy. The
growing role of the State Oil Company of Azerbaijan (SOCAR) in the
international gas market is key to long-term economic benefits for
Azerbaijan’s energy sector and boosting energy security in
Europe.
Notably, the State Oil Company of the Republic of Azerbaijan
(SOCAR) started gas deliveries to Slovakia’s SPP, the country’s
largest state-owned energy supplier, starting in December.
The gas deliveries are part of the Solidarity Ring initiative
(STRING). In May of this year, Richard Kvasňovský, Executive
Director of the Slovak Gas and Oil Association (SGOA), stated that,
under the STRİNG initiative, Azerbaijani gas supplies to Europe
could initially reach 5 billion cubic meters.annually
As part of this initiative, a Memorandum of Understanding (MoU)
was signed in Sofia on April 25, 2023, between Bulgartransgaz
(Bulgaria), Transgaz (Romania), FGSZ (Hungary), EURSTREAM
(Slovakia), and the State Oil Company of Azerbaijan (SOCAR).
The total gas consumption in Slovakia last year was 45,537
terawatt-hours (about 4.23 billion cubic meters).
Economist and expert Eldeniz Amirov told Trend that
the gas deliveries from Azerbaijan to Slovakia would bring
dividends to both countries.
“This will be seen in political, economic, and other aspects.
Gas supply is crucial for Slovakia’s and Europe’s energy security.
The challenges faced by Europe in energy security after the
Russia-Ukraine conflict have made Azerbaijan’s potential even more
relevant. Today, Azerbaijan’s role in diversifying Europe’s
alternative energy sources is significant. At the same time, gas
exports strengthen Azerbaijan’s position in international trade,
elevate the country’s standing in the energy market, and contribute
to financial inflows. These gas supplies will undoubtedly foster
further expansion of infrastructure projects in the country and
make it more resilient in this sector,” the expert said.
To note, SOCAR highlighted that these deliveries are part of its
ongoing efforts to diversify its export markets.
With this development, Slovakia becomes the twelfth country to
import Azerbaijani gas, joining Türkiye, Georgia, Italy, Greece,
Bulgaria, Romania, Hungary, Serbia, Slovenia, Croatia, and North
Macedonia.