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Azerbaijan doubles gas export to Russia â€“ UPDATED

Azerbaijan doubles gas export to Russia â€“ <font color=red>UPDATED </font>

23 January 2012 12:15 (UTC +04:00)

According to APA-Economics, the contract was signed by SOCAR President Rovnag Abdullayev and Gazpromâ€™s CEO Alexei Miller.

According to amendment in bilateral contract on gas purchase and sale, Azerbaijan will double gas export to Russia to 3 bcm, in 2012. IN 2013, it will be over 3 bcm.

According to Gazpromâ€™s press service, Abdullayev and Miller appreciated the mutual cooperation of both companies.

Miller noted that, the sides intended to increase the hydrocarbon export: â€œWe increase the gas export from Azerbaijan systematically, during 2 years. Russia-Azerbaijan energy cooperation improves and this indicates that hydrocarbon export will be increased. Absence of upper limit on gas export, nearness of areas, well-constructed gas transport system and absence of transit zones allows Azerbaijan to export it gas to Russia effectivelyâ€.

Remind that, GAzprom and SOCAR signed the contract on gas purchase and sale on October 14, 2009. According to contract, export of Azeri gas to Russia started in January 1, 2010. 0.8 bcmof gas was exported to Russia during that year. However, according to amendments in contract the gas export was increased. Note that, Azerbaijan exported 1.5 bcm of gas in 2011.