SOCAR names conditions for Russian gas supply to Azerbaijan

  05 November 2015    Read: 1071
SOCAR names conditions for Russian gas supply to Azerbaijan
Russian gas supply to Azerbaijan depends on its price, a source in the State Oil Company of Azerbaijan told on Nov.5.
Earlier, AzMeCo company signed a contract with Russian Gazprom for gas supply to the methanol plant, but had to suspend it, since it was unprofitable, according to the source.

“For this reason and taking into account the ongoing processes on world markets, we are considering how will the Russian gas supply be beneficial or unbeneficial for us,” said the source.

“If it is not beneficial, we won’t buy gas,” said the company’s representative. “Azerbaijan has sufficient gas reserve and we are ready to buy additional volumes of gas only at reasonable prices.”

The source said that the negotiations on this issue are underway.

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