Memo of understanding signed between Gazprom and SOCAR

14:20

Russian gas monopoly Gazprom intends to purchase Azerbaijan gas from 2010. Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic, said in his exclusive with ANS that under the Memorandum of Understanding signed on March 28 between Gazprom and SOCAR, measures will be taken on exchange of  natural gas. Besides, Gazprom will launch examination works on reconstruction of a part of current gas pipeline.

Full text of SOCAR President's interview will be available at anspress.com soon.

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13:25

The sides confirmed interest in the development of mutually profitable strategic partnership. They stressed high potential for large scale long term cooperation.

A memo of understanding was signed by results of the meeting.

The memo mentions the agreement to start talks on coordinating provisions of Azeri gas sale and purchase, with the start of supply from January 2010 on DAF provisions Azerbaijan/Russia border. They will also work out variants and economic expediency of exchange operations with natural gas, reports the press service for Gazprom.

The document also envisions development of the program of cooperation on exchange of experience, holding courses, organizing scientific seminars and attending industrial establishments by specialists of the sides to share information.

In the near future Gazprom and SOCAR will hold technical inspection of the gas pipeline system at the Baku-Novo-Filya section for its modernization. By this section Azerbaijani gas will be supplied to Russia.

/RusEnergy/