Bulk of gas exports to Russia `to be determined mid-2010`
The president of the Azerbaijani state energy firm
SOCAR, Rovnag Abdullayev, has said the maximum amount of gas the
company will sell to Russia under a recently signed agreement will
be determined in mid-2010.
According to Abdullayev, Azerbaijan has ample potential to increase its gas exports.
``We have concluded a long-term agreement. The volume of gas to be supplied to Russia is at least 500 million cubic meters, while the maximum volume was not indicated. Under our contract with [Russian gas monopoly] Gazprom, we are at liberty to increase that volume as much as we want after having provided a written notification to Gazprom within five months. This allows us to implement our gas projects.``
The contract on selling Azerbaijani gas was signed in Baku last week by SOCAR President Rovnag Abdullayev and Gazprom`s Chief Executive Alexei Miller. Azerbaijan intends to tackle gas exports in January.
The sides have not announced the price of gas, but Abdullayev said earlier that it would be based upon a formula satisfying SOCAR.
Abdullayev also said upgrade operations were underway on the north-bound Baku-Novorossiysk pipeline, which links Azerbaijan with Russia. Five billion cubic meters of gas per year was transported through the conduit in the past, and the upgrade will allow increasing the capacity to 7bn cu. m., he added.
According to Abdullayev, Azerbaijan has ample potential to increase its gas exports.
``We have concluded a long-term agreement. The volume of gas to be supplied to Russia is at least 500 million cubic meters, while the maximum volume was not indicated. Under our contract with [Russian gas monopoly] Gazprom, we are at liberty to increase that volume as much as we want after having provided a written notification to Gazprom within five months. This allows us to implement our gas projects.``
The contract on selling Azerbaijani gas was signed in Baku last week by SOCAR President Rovnag Abdullayev and Gazprom`s Chief Executive Alexei Miller. Azerbaijan intends to tackle gas exports in January.
The sides have not announced the price of gas, but Abdullayev said earlier that it would be based upon a formula satisfying SOCAR.
Abdullayev also said upgrade operations were underway on the north-bound Baku-Novorossiysk pipeline, which links Azerbaijan with Russia. Five billion cubic meters of gas per year was transported through the conduit in the past, and the upgrade will allow increasing the capacity to 7bn cu. m., he added.
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