Gas contract between Azerbaijan and Russia is principle for long-term cooperation: Gazprom head

Azerbaijan, Baku, Jan.12 / Trend , E.Ismayilov /

An Azerbaijani gas sale and purchase contract signed between the State Oil Company of the Azerbaijan Republic (SOCAR) and Russia's gas monopolist Gazprom has laid the foundation for long-term energy cooperation.

"I think that we have laid the foundation for successful, mutually beneficial, long-term cooperation between Russia and Azerbaijan in the gas sphere," Gazprom head Aleksey Miller said.

He added that the gas contract between Azerbaijan and Russia is unique for the company.

An important feature of the contract is that no upper limit of purchased gas has been established.

"We will buy as much as the Azerbaijani side will be able to supply. This is not in any other Gazprom contract, which once again underscores the high level of our partnership," Miller said.

He added that Gazprom has no doubt it will reach further gas agreements with the Azerbaijani side.

Azerbaijani gas supplies to Russia began Jan. 1.

As SOCAR head Rovnag Abdullayev said earlier, initially 500 million cubic meters of gas was to be exported to Russia this year. But now the sides have doubled the figure.

At present, Azerbaijan daily transport one million cubic meters of gas to Russia, but, this figure will be increased up to 1.5 million from Jan.15.

At present, Azerbaijan and Russia are linked by the Mozdok-Kazi-Magomed Pipeline, whose capacity is 5 million cu m of gas per year. Until 2007, Azerbaijan imported 4.5 billion cubic meters of gas. In 2008, Azerbaijan refused to import gas.  

The medium-term contract on purchase-sale of Azerbaijani gas to Russia (with the possibility of extension) was signed between SOCAR and Gazprom 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 which the company can deliver for the next six months.

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