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North Macedonia's ESM, SOCAR sign energy cooperation MoU

North Macedonia's ESM power utility and Azerbaijan's. state energy business SOCAR on Thursday signed a memorandum of. understanding intending to strengthen energy stability in the. Balkan nation, ESM said on its website.

The cooperation will focus on enhancing the access and. expanding opportunities for gas products to ensure a. steady supply at competitive costs, the nation's largest power. manufacturer stated.

It added that the memorandum remained in line with state efforts. to offer natural gas and with the SOCAR objective to increase its. existence in the local market.

It is fantastic news, and really favorable for our nation,. North Macedonian Prime Minister Hristijan Mickoski told. press reporters. SOCAR is a giant as a company, delivering gas to. Europe ... I anticipate that through this MoU we can get lower. costs and regular energy products next year.

Mickoski on Thursday said the federal government has been. negotiating a 1 billion euro investment into the co-generative. gas system aiming to cut pollution and provide stable heating. from clean energy however decreased to recognize potential investors.

Annual gas usage in North Macedonia amounts to 3,621. cubic feet of gas per capita.

(source: Reuters)