SOCAR on target with gas supplies to Russia
Azerbaijan, Baku, Oct. 24 / Trend , E.Ismayilov /
The State Oil Company of the Azerbaijan Republic (SOCAR) supplied more than 1.5 billion cubic meters of gas to Russia under the medium-term contract with the Russian Gazprom, a source at SOCAR told Trend.
A company source said the figures relate to deliveries under this year's volume. By the end of 2011, Russia will have received two billion cubic meters of gas under the terms of the contract. SOCAR exported about 800 million cubic meters of gas to Russia in 2010 after starting deliveries at the beginning of that year.
The medium term contract on the purchase and sale of Azerbaijani gas to Russia, with the possibility of an extension, was signed between SOCAR and Gazprom in Baku on Oct. 14, 2009. 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.