Azerbaijan to increase Russian gas purchases

Dec 15, 2003 01:00 AM

Until the end of December 2003 the State Oil Company of the Azerbaijani Republic (SOCAR) plans to sign a trilateral agreement with Gazprom and Itera on purchase of 5 bn cm of gas from them in 2004, reports President of SOCAR Natik Aliyev.
He said, "We discussed this issue with the president of Itera. After December 20 President of Gazprom will arrive in Baku, we will discuss all details and will sign the agreement."

According to Aliyev, according to the agreement in 2004 Itera will supply 4 bn cm of gas to Azerbaijan and Gazprom will sell 1 bn cm of gas to the republic for the first time. Along with this, Gazexport is conducting direct negotiations with SOCAR on signing of a long-term contract for supply of up to 4 bn cmpy of gas.
Since the end of 2000, Azerbaijan has been buying gas from Itera for needs of its northern provinces and for the two basic heat and power stations converted from fuel oil to gas. In 2001, the supplies totalled 3.5 bn cm and in 2002 and 2003 they totalled 4 bn cm. Azerbaijan produces 5 bn cmpy of gas on average, which is by 50-60 % less than its needs.

Source: Neftegaz.RU
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