Gazprom, SOCAR sign natural gas purchase and sale contract

Gazprom and the State Oil Co. of Azerbaijan Republic (SOCAR) have signed a natural gas purchase and sale contract.

Offshore staff

BAKU, Azerbaijan -- Gazprom and the State Oil Co. of Azerbaijan Republic (SOCAR) have signed a natural gas purchase and sale contract.

Pursuant to the long-term contract, Gazprom will purchase an initial volume of 500 MMcm of gas with a subsequent increase according to the Azerbaijani party’s export potential. Gas supplies will start from January 2010.

The gas is to come from Shakh-Deniz field in Azerbaijan’s sector of the Caspian Sea.

10/16/2009

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