Industry and Energy

Industry and Energy

Alexander Agayev: Azerbaijan to be 3-8 years late in introducing energy-saving technology

24 December 2009 14:38 (UTC +04:00)

Baku. Aynur Veliyeva - APA-ECONOMICS. Like Russia, Azerbaijan will be late for 3-8 years to introduce energy-saving technologies, said Alexander Agayev, the founder and general director of the Economic Strategy Institute of Social Sciences Department of Academy of Sciences of Russia.

He added that this process us under way in Russia now.

He also said that oil and gas prices are not dependent on each other.

He said that the agreement signed between Russia’s Gazprom and Turkmengaz on a price lower than expected aroused great repercussion in the oil sector.

According to the agreement, Gazprom will pay $195 for 1 000 cubic meters of Turkmen gas, compared to Turkmenistanâ€™s expectation of $375.5.