Azerbaijan, Serbia Sign Deal for 500-MW Gas Power Plant in Niš

Jerusalem, 1 October, 2026 (TPS-IL) -- Baku (AZERTAC) – A Shareholders Agreement was signed in Belgrade between SOCAR, the Serbian state energy enterprise “Elektrosenayesi Srbija” (EPS), and the company “Srbijagas” on the project to build a combined cycle gas power plant in the southeastern Serbian city of Niš.

SOCAR is Azerbaijan’s state-owned gas and oil company.

The document was signed by SOCAR President’s Advisor and SOCAR Turkey General Director Elchin Ibadov, EPS General Director Dusan Zivkovic, and Srbijagas General Director Dusan Bayatovic.

The document envisions the construction of a 500 MW power plant. As a joint venture, the share of Serbian and Azerbaijani participants will be 50 percent for each side.