Gazprom to Double Azeri Gas Purchases

Gazprom is set to double its purchase of Azeri gas in 2012, increasing purchased amounts from 1.5 billion cubic metres (bcm) of gas last year to 3 bcm, the company has said.

 The company says the figure will exceed 3 billion cubic metres in 2013.

Today, the company signed an addendum to an existing gas contract with the State Oil Company of Azerbaijan Republic (SOCAR) for the increased volume of gas imports, following a meeting between Chairman of the Gazprom Management Committee, Alexey Miller and President of SOCAR Rovnag Abdullayev. The addendum alters a contract first signed between the two companies on 14 October 2009. 

"We have been doubling the purchase of Azerbaijani gas for the second consecutive year," CEO of Gazprom Alexey Miller said.

"The Russian-Azerbaijani energy partnership is developing at a good pace and that demonstrates the mutual aspiration for further build-up of hydrocarbons supplies.

"The absence of (an) upper limit for the gas purchase amount, geographic proximity, well-developed gas transmission infrastructure and no transiting zones make natural gas export to Russia most profitable for Azerbaijan."