Gazprom and SOCAR developing strategic relationships

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Rovnag Abdullayev, President of the State Oil Company of the Azerbaijan Republic (SOCAR).

The meeting addressed the status of cooperation in the energy sector, particularly focusing on the terms and conditions of natural gas supplies from Azerbaijan to Russia.

The participants emphasized at the end of the meeting that the partnership between Gazprom and SOCAR was meeting the interests of both companies.

Background

The State Oil Company of the Azerbaijan Republic (SOCAR) is Azerbaijan’s largest state-owned petroleum company involved in oil, natural gas and gas condensate exploration, production, processing, transportation and marketing.

In October 2009 Gazprom and SOCAR signed the Sales and Purchase Contract for Azerbaijani natural gas. Azerbaijani gas has been supplied to Russia since January 1, 2010. In January 2012 Gazprom and SOCAR signed an addendum to the effective Sales and Purchase Contract.

According to estimates, 1,37 billion cubic meters of Azerbaijani natural gas will be supplied to Russia in 2013.