TODAY.AZ / Business

Minister: Azerbaijan, Russia mull oil and gas exports

18 July 2011 [19:42] - TODAY.AZ
The Azerbaijan - Russia economic relations are progressing, trade is groining and there exist real opportunities to increase it in the future, Azerbaijani Foreign Minister Elmar Mammadyarov said following the talks with Russian Foreign Minister Sergei Lavrov in Moscow on Monday, the Russia 24 television channel reported.

"We have discussed the issue of pumping more oil through the Baku-Novorossiysk pipeline and the issues of increasing gas supplies. The State Oil Company of the Azerbaijan Republic (SOCAR) is in talks over this issue with counterparts from Russia," Mammadyarov said.

The medium-term contract on the purchase-sale of Azerbaijani gas to Russia (with the possibility of an extension) was signed between SOCAR and Gazprom in Baku on Oct. 14, 2009. According to the agreement, Gazprom will get 2 billion cubic meters in 2011 and more than 2 billion cubic meters in 2012.

Azerbaijan began gas supplies to Russia on Jan. 1, 2010.


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URL: http://www.today.az/news/business/90722.html

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