Azerbaijan and Russia Sign New Deal on Sale and Purchase of Electricity

Oil&Gas Materials 25 February 2008 19:40 (UTC +04:00)

Azerbaijan, Baku, 25 February / corr. Trend S. Aliyev/ The Russian Inter RAO and Azerbaijani Azerenerji joint stock company have signed a new deal for the sale and purchase of electricity, Azerenerji said on 25 February.

According to the new deal, both parties will introduce a unified tariff on the sale and purchase of electricity between Russia and Azerbaijan at any hour of the day.

Russia proposed to carry out the turnover on the so-called mirror principle at a unified cost of 4.3 American cents for 1 kilowatt-hour for both parties.

Currently the production of energy in Azerbaijan meets the demands of the domestic market. The volume of energy imported from Russia dropped by 70% in 2007 as compared to 2006.

The energy turnover between Russia and Azerbaijan is a positive factor.

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