Azerbaijan and Russia Continue Sale-Purchase of Electricity Under Existing Contract

Oil&Gas Materials 8 January 2008 18:41 (UTC +04:00)

Azerbaijan, Baku / corr. Trend S. Aliyev/ Azerbaijan and Russia are continuing mutual exchange of electricity under the existing contract on the sale-purchase of electricity, Marlen Asgarov, the vice-president of Azerenerji JSC reported on 8 January.

According to the conditions of the contract on mutual electricity supply, the contract can be extended if the sides do not have any claims. The import of electricity from Russia to Azerbaijan is carried out on tariffs applied in 2006, which is 3.636 cents per 1 KWt/h. In 2007 the cost of Azerbaijani electricity for Russia rose 1.58% for 1 KWt/h to 1.8 cents.

According to Asgarov, the contract was signed between Azerenerji and Inter (the export and import operator in Russia). Inter will not be broken up and there is no need to sign a new contract.