Serbia and Azerbaijan expect to agree upon contract terms for the joint construction of a gas-fired power plant in Serbia's southern city of Nis in early May, energy minister Dubravka Djedovic Handanovic said on April 21.
Work on harmonising the contract started after the signing in February of a term sheet agreement on the project, Djedovic Handanovic said in a press release, following a meeting with representatives of Azerbaijan's state-owned oil and gas company Socar.
The contract will define the roles and responsibilities of Serbian state-owned power utility EPS, state-owned gas importer and distributor Srbijagas, and Socar in this project, for the implementation of which a joint venture will be established.
The power plant is expected to be constructed by 2030, while its final capacity will depend on investment profitability, with about 500 MW of electricity and 150 MW of thermal output under consideration, Djedovic Handanovic said.
