Gazprom to ensure 2bln cu. m. of gas supply to AzMeCo
By Aynur Karimova
Azerbaijan's methanol production plant AzMeCo Company has signed an agreement on purchase of up to 2 billion cubic meters of gas per year from the Russian Gazprom export company, Gazprom reported on September 11.
The agreement was signed in Baku in the presence of Gazprom Deputy Chairman of the Board Alexander Medvedev, Deputy President of Azerbaijan's state energy company SOCAR on Marketing and Investment Elshad Nasirov, Director General of Gazprom export Elena Burmistrova and Chairman of the Board of AzMeCo Nizami Piriyev.
"This is a medium-term agreement on purchase and sale of gas in a volume of up to 2 billion cubic meters a year. Natural gas supplies will provide a guaranteed load of 100 percent of capacity of the Garadagh methanol plant. Gas supplies to the end users in Azerbaijan are planned to start soon," Gazprom reported.
In July, SOCAR President Rovnag Abdullayev told journalists that SOCAR has allowed Gazprom Company to supply gas to AzMeCo Company.
"We do not have a need to import gas, as we fulfill all our contractual obligations. The fact is that a methanol plant was constructed, but no long-term contract for the supply of gas was concluded with SOCAR, so we do not have resources for it. For this reason, when Gazprom addressed us, SOCAR did not oppose to the purchase of gas by AzMeCo from the Russian company. A contract on the supply of Russian gas to the plant via our pipelines was concluded," Abdullayev 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 for suspending and resuming gas supplies at any time.
AzMeCo was founded in November 2007 to invest in petrochemical projects as an owner and operator. In addition to its portfolio of international hydrocarbon investments in the Caspian basin, AzMeCo created a master plan of investments in the non-oil sector of Azerbaijan.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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