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SOCAR proposes Gazprom supply contract extension

SOCAR has proposed an extension to its gas supply contract with Russia’s Gazprom until 2020.
By Staff reporter 1 November 2018 Europe & Russia / Companies & Finance 0 33138

State Oil Company of Azerbaijan Republic (SOCAR) has proposed an extension to its gas supply contract with Russia’s Gazprom until 2020, SOCAR Vice President Elshad Nasirov told journalists in Minsk on Thursday.

“If it is commercially advantageous to buy gas in Russia, we will do that. We have proposed extending the contract until 2020. The volume of the purchases will be determined based on commercial interests, [and will be up to] 1 billion cubic metres per year,” Nasirov said.

“We believe that pipelines should...