Alexey Miller and Rovnag Abdullayev agree to increase Azerbaijani gas purchases

abarrelfullabarrelfull wrote on 25 Jan 2011 07:15
Tags: azerbaijan gas gazprom russia socar

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Saint Petersburg hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic (SOCAR).

The parties addressed the results of cooperation in 2010. Gazprom and SOCAR agreed that the joint efforts to supply natural gas from Azerbaijan to Russia had been a success. It was noted that the specified route of Azerbaijani gas deliveries was the most safe and reliable one.

The meeting confirmed that the gas purchase volume would equal 2 billion cubic meters in 2011. Both chief executives resolved to promote successful and fruitful cooperation and to purchase more gas in 2012 above the amount previously agreed upon in the contract addendum of September 3, 2010. An accord was reached that Azerbaijani gas purchases would be based on the price formula linked to the oil basket price and have no long-term restrictions on the purchase volume.

Based on the meeting results, Alexey Miller and Rovnag Abdullayev stressed that fostering the interaction between Gazprom and SOCAR was strategically important for cooperation between the two countries.

“Cooperation on gas issues between Azerbaijan and Russia is the most commercially viable option for both partners. There are no obstacles for Gazprom to ensure feasibility for a further increase in the Azerbaijani gas import at any moment coordinated with our partners from Baku. This was confirmed by the negotiations and we agreed to increase gas purchases in 2012,” said Alexey Miller.

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