Russian Gazprom Inks Deal to Double Azeri Gas Purchases

January 23, 2012

Today in Krasnaya Polyana Alexey Miller, Chairman of the Gazprom Management Committee and Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic (SOCAR) signed in the presence of Russian President Dmitry Medvedev and Azerbaijani President Ilkham Aliev an addendum to the effective purchase and sale contract for the Azerbaijani natural gas.

Pursuant to the addendum, the annual amount of gas purchase from Azerbaijan will rise from 1.5 to 3 billion cubic meters in 2012 and will surpass 3 billion cubic meters starting from 2013.

Alexey Miller and Rovnag Abdullayev appreciated the rapid development of the companies’ interaction in the gas sector and stressed that stronger ties between Gazprom and SOCAR met strategic interests of both countries.

“We have been doubling the purchase of Azerbaijani gas for the second consecutive year. The Russian-Azerbaijani energy partnership is developing at a good pace and that demonstrates the mutual aspiration for further buildup of hydrocarbons supplies. The absence of upper limit for the gas purchase amount, geographic proximity, well-developed gas transmission infrastructure and no transiting zones make natural gas export to Russia most profitable for Azerbaijan,” said Alexey Miller.

[mappress]
LNG World News Staff, January 23, 2012