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SOCAR, Gazprom agrees to switch to temporary swap scheme

17 September 2015 10:45 (UTC +04:00)

2 billion cubic meters of gas to be supplied by Gazprom per year will be stored in SOCAR’s gas storage facilities, Abdullayev said, adding that Gazprom is going to supply around 10 million cubic meters of gas per day.

“For our part, we have expanded the capacity of our gas storage facilities and have not tested their capabilities as a kind of pilot project. But Gazprom needs to achieve the supply of Azerbaijani gas to Dagestan, the southern region of Russia. Therefore SOCAR and Gasprom agreed to switch to the temporary swap scheme, the SOCAR president said.

Abdullayev said Gazprom will supply 10 million cubic meters of gas per day and 2 billion cubic meters of gas per year. “Thereby, we will check the peak capacity of our gas storage facilities.”

SOCAR will begin to ensure the supply gas to Dagestan from 2017, he said, noting the relevant agreement will be signed in 10-15 days.