Gas contract between SOCAR and Gazprom envisaged for five years
Baku, Azerbaijan, June 30 / Trend , E.Ismaylov /
The contract for the sale of Azerbaijani gas, which was signed on Monday in Baku between SOCAR and Gazprom, is for five years with a possibility to export at least 500 million cubic meters of gas per year, said the President of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev said on June 30.
"This contract is profitable for us. Signing it, we were able to export of our surplus gas," - told reporters Abdullayev.
According to him, export volumes will be agreed for the six months ahead.
By the end of the year, on the gas pipeline linking Azerbaijan and Russia, Kazi-Mammad - Mozdok, works will be carried out for its operation in reverse regime. Its capacity is 5-10 billion cubic meters of gas per year.