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SOCAR exports about 1.1 billion cubic meters of gas to Russia

Oil&Gas Materials 11 July 2011 17:40

Azerbaijan, Baku, July 11/ Trend /

The State Oil Company of the Azerbaijan Republic (SOCAR) exported 1 billion cubic meters of gas to Russia in January-June under the medium-term contract with "Gazprom", a source at the oil and gas market said.

Currently, around 3.5-4 million cubic meters of Azerbaijani gas supplied by SOCAR to Russia daily, the source said.

The source said despite the seasonal decline in the volume of gas, compared to the beginning of the year when the daily gas supply was about 6 million cubic meters, the entire amount provided for this year - two billion cubic meters, will be delivered.

As of July 11, about 1.1 billion cubic meters of gas has already been delivered to Russia.
In 2010, SOCAR exported about 800 million cubic meters of gas to Russia within the contract.

The medium-term contract on the purchase-sale of Azerbaijani gas to Russia (with the possibility of an extension) was signed between SOCAR and Gazprom in Baku on Oct. 14. According to the agreement, Gazprom will get 2 billion cubic meters in 2011 and more than 2 billion cubic meters in 2012.

Azerbaijan began gas supplies to Russia on Jan. 1, 2010.

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