Azerbaijan, Russia Sign Agreement to Increase Gas Supply in 2011

The Sate Oil Company of the Azerbaijan Republic (SOCAR) and Russia’s gas monopoly Gazprom have signed a supplement to the agreement on gas supplies.

Under the document, Azerbaijan will increase gas export to Russia to 2 billion cubic meters per year since 2011 and over 2 billion cubic meters per year since 2012.

The agreement was signed during Russian President Dmitry Medvedev ‘s official visit to Azerbaijan.

According to SOCAR, the company exported more than 494.6 million cubic meters of gas to Russia in January-July. Russia received over 66.4 million cubic meters of gas in July compared to 81.54 million cubic meters in June.

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