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Gazprom ready to meet Azerbaijan's gas import demands

22 June 2015 10:51 (UTC+04:00)
Gazprom ready to meet Azerbaijan's gas import demands

By Aynur Karimova

Russian Gazprom, a global energy company, has expressed readiness to meet Azerbaijan’s demands in gas import in the needed volumes.

This remark was made by Alexey Miller, Gazprom head, at the business meeting with Rovnag Abdullayev, the head of Azerbaijan's state energy giant SOCAR, during the St. Petersburg International Economic Forum on June 19.

The meeting participants discussed the further development of cooperation in the energy field.

“In connection with the increase in domestic gas consumption in Azerbaijan and the country’s economic growth, Gazprom is ready to meet Azerbaijan’s demands in gas import in the needed volumes,” Miller said.

Currently, Gazprom has a contract (with the possibility of extension) on purchasing Azerbaijani gas signed October 14, 2009. The contract between SOCAR and Russia’s Gazprom allows suspending and resuming gas supplies at any time.

Later, SOCAR and Russian Gazprombank signed an agreement to finance the construction of plants for production of polypropylene and high density polyethylene by SOCAR Polymer Company in Azerbaijan.

According to the document, Gazprombank will allocate a loan worth $489 million for SOCAR Polymer with the repayment period of 10 years.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

Follow us on Twitter @AzerNewsAz

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