Bank Of Baku

Azerbaijan and Iran to ink gas agreement

Azerbaijan and Iran to ink gas agreement
# 14 December 2009 14:06 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. As part of Azerbaijani Foreign Minister Elmar Mammadyarov-led delegation’s visit to Iran, SOCAR Vice-President Elshad Nasirov has travelled to Tehran, said Rovnag Abdullayev, President of the State Oil Company of Azerbaijan (SOCAR).

Accordign to him, Elshad Nasirov will negotiate the gas agreement with the National Iranian Gas Company.

“We have had negotiations and agreed on some details. If the negotiations are completed successfully, the agreement will be signed in Tehran,” he added.

According to the memorandum signed between the two countries on November 14, SOCAR will deliver at least 500 million cubic meters of gas to Iran a year from 2010 at the initial stage, and the volume will be gradually increased later.

Azerbaijan will charge Iran a price “close to the world market prices” calculated on the basis of an agreed formula, said officials earlier.

Azerbaijan has natural gas agreements with Georgia, Turkey and Russia at present.
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