Germany’s SEFE Secures Long-Term Natural Gas Import Deal with SOCAR
Germany’s Securing Energy for Europe (SEFE) has taken a significant step towards enhancing Europe’s energy security by signing a multi-year natural gas import agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR).
Under the terms of the contract, SOCAR will supply natural gas to SEFE for the next decade, starting in 2025. The annual volume of gas delivered will gradually increase to 15 terawatt hours (TWh), equivalent to approximately 1.5 billion cubic meters (bcm).
Dr. Egbert Laege, CEO of SEFE, expressed his satisfaction with the partnership, stating: “This long-term agreement underscores the strong bond between Germany and Azerbaijan. By establishing this new gas route, we are diversifying our energy sources and bolstering the security of gas supply for our customers.”
The collaboration between SEFE and SOCAR is expected to facilitate investments in production and infrastructure, including gas compressors, to enhance the flow of pipeline gas to Europe and ensure the continent’s energy security.
Rovshan Najaf, President of SOCAR, emphasized the significance of the agreement, saying: “This partnership represents a key milestone in SOCAR’s commitment to enhancing Europe’s energy security. By delivering reliable and substantial gas volumes to SEFE, we are strengthening the ties between Azerbaijan and Germany, supporting Europe’s energy diversification objectives, and fostering sustainable growth.”
In addition to the deal with SEFE, SOCAR has recently engaged in strategic partnerships with ExxonMobil and Gran Tierra Energy to explore energy opportunities in the oil and gas sector. The company has also entered into an agreement to collaborate with Chevron on a gas field project off the coast of Israel.
Najaf reiterated SOCAR’s dedication to investing in infrastructure and production capacities to ensure uninterrupted energy supplies for its partners.
The natural gas agreement with SOCAR follows SEFE’s previous agreement with Delfin Midstream for the supply of liquefied natural gas (LNG) from a proposed project on the U.S. Gulf Coast.