SOCAR, Gazprom negotiate gas prices for 2011
Azerbaijan, Baku, Aug. 18 / Trend N.Ismayilova /
The State Oil Company of the Azerbaijan Republic (SOCAR) and Russia's Gazprom are negotiating gas prices for 2011, Russian Trade Representative in Azerbaijan Yuri Shchedrin said at a news conference today.
Negotiations are still underway, Shchedrin said.
Gazprom and SOCAR have already agreed on the volume of gas to be exported to Russia in 2011. The figure will reach roughly 2 billion cubic meters in 2010.
A medium-term contract on Azerbaijani gas sales to Russia was signed between SOCAR and Gazprom in Baku Oct. 14. The contract covers 2010-2014. Under the contract, Azerbaijan will supply no less than 500 million cubic meters of gas annually to Russia.
Azerbaijan began gas supplies to Russia Jan. 1.
According to SOCAR, the company exported more than 494.6 million cubic meters of gas to Russia in January-July. Russia received over 66.4 million cubic meters of gas in July compared to 81.54 million cubic meters in June.