Azerbaijan, Baku, Dec. 9 / Trend E.Ismayilov /
The State Oil Company of the Azerbaijan Republic (SOCAR) will begin Azerbaijani gas supplies to Russia under a contract signed between SOCAR and the Russian gas monopoly Gazprom in early 2010, a source on the oil and gas market said.
"The work continues to prepare infrastructure for starting exports," the source said. "But they are currently in the process of completion. Deliveries to Russia will begin on schedule early next year."
The medium-term contract (with the possibility of extension) was signed in Baku Oct. 14. It covers 2010-2014. Under the contract, the Azerbaijani side will annually supply gas amounting to no less than 500 million cubic meters to Russia. The contract did not specify a limit to the gas supply volume. SOCAR will notify the opposite side of the amount the company can deliver for the next six months.
At present, Azerbaijan and Russia are linked by the Mozdok-Kazi-Magomed Pipeline.
Under the contract, Azerbaijan will supply to Russia no more than 500 million cubic meters of gas in 2010, a senior SOCAR official said earlier. He added that the company will not be able to increase gas supplies to Russia the first year.
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