Azerbaijan, Baku, July 2 / Trend , E.Tariverdiyeva/
A contract to purchase a natural gas from Azerbaijan is advantageous for Russia to save transport costs in transporting fuel to the country's southern regions, Russian Ambassador Vladimir Dorokhin told journalists in a news conference on July 2 after the Russian president's visit to Azerbaijan.
"It is also a good foundation for the relationship and both parties are satisfied," Dorokhin said.
The State Oil Company of Azerbaijan Republic (SOCAR) and Russian Gazprom signed a contract to buy the Azerbaijani gas in Baku on July 2. The contract covers 5 years with the possibility to export at least 500 million cubic meters of gas a year. By late 2009, the Qazimagomed-Mozdok gas pipeline which connects Azerbaijan and Russia will undergo engineering work to operate in reverse mode. Its capacity is 5 billion-10 billion cubic meters of gas a year.