Azerbaijan, Baku, Sept. 28 / Trend E.Ismayilov /
The Sate Oil Company of the Azerbaijan Republic (SOCAR) exports 2.5-3 million cubic meters of gas to Russia per day under the contract signed with the Russian company Gazprom, a source in the oil and gas market said on Tuesday.
"The country continues gas supplies to Russia and the figure is 2.5-3 million cubic meters of the Azerbaijani gas per day," the source said.
The source added that the exports of natural gas would reach the level planned for 2010 - one billion cubic meters by late 2010.
According to SOCAR, the company exported about 557.4 million cubic meters of gas to Russia in January-August compared to more than 494.6 million cubic meters of gas in January-July. Russia received over 62.74 million cubic meters of gas in August compared to 66.4 million cubic meters in July.
Azerbaijan began gas supplies to Russia on Jan. 1. The medium-term contract on the purchase and sale of Azerbaijani gas to Russia was signed between SOCAR and Gazprom in Baku on Oct. 14. The contract covers 2010-2014. Based on the new document signed in early September, Azerbaijan will increase gas exports to Russia to 2 billion cubic meters per year from 2011 and to over 2 billion cubic meters per year from 2012.
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