Russian energy giant Gazprom announced an agreement to double its
natural gas purchases from Azerbaijan in 2010 and again in 2011.
Gazprom announced it plans to purchase 35 billion cubic feet of
natural gas from Azerbaijan in 2010 and 70 billion cubic feet in
2011.
The agreement came during a Moscow meeting between Gazprom
chief Alexei Miller and Rovnag Abdullayev, the president of the
State Oil Co. of Azerbaijan Republic.
"The meeting addressed the issues relevant to the launch of
Azerbaijani natural gas supplies to Russia for the first time in the
history of cooperation between the countries," the Russian gasgiant
said.
Miller added there was no upper limit on the amount of Azeri gas
purchases, which he said showed Gazprom was ready to buy as much gas
from Azerbaijan as it was able to supply.
Azerbaijan has emerged as a regional energy giant. Europe eyes Azeri
gas for its lauded Nabucco pipeline, which is intended to break the
Russian grip on the regional energy sector.
Nabucco enjoys widespread political support but lacks firm
commitments from supplier nations.
Gazprom signed a purchase and sale contract for more than 1.7
billion cubic feet of gas from SOCAR in October.
Azerbaijan holds as much as 45.9 trillion feet of recoverable gas
reserves.
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