SOCAR president: No uncoordinated issues between SOCAR and Gazprom
Azerbaijan, Baku, September 1 /Trend, E.Ismayilov/
There are no uncoordinated issues, particularly on the cost of gas, in the contract on the supply of Azerbaijani gas to Russia, signed between SOCAR (State Oil Company of Azerbaijan) and Russia's Gazprom, SOCAR President Rovnag Abdullayev said.
According to him, already there is a contract between the parties to supply one billion cubic meters of gas per year, additions will be made to the contract if the volume of gas from SOCAR is increased. The price of Azerbaijani gas supplied to Russia is determined on the basis of a special formula.
Medium-term contract (with a possibility of extension) on the sale of Azerbaijani gas to Russia was signed between SOCAR and Gazprom in Baku on October 14. It covers 2010-2014. Under the contract, the Azerbaijani side will supply at least 500 million cubic meters of gas to Russia each year. The contract does not specify a limit of gas supply volume. Over the next six months, SOCAR will notify the other side of the volume that the company can deliver.
Supplies of Azerbaijani gas to Russia began on January 1, 2010.
According to SOCAR, in January-July, the company has exported to Russia more than 494.6 million cubic meters of gas within the mid-term contract. Over 66.4 million cubic meters of Azerbaijani gas was delivered to Russia in July compared to 81.54 million cubic meters in June.