Headline changed, details added (first version posted on 12:01)
Baku, Azerbaijan, Sept.17
Trend:
The State Oil Company of Azerbaijan (SOCAR) and Russia's Gazprom company will start swap transactions on Russian gas supply to Azerbaijan soon, SOCAR President Rovnag Abdullayev told reporters Sept.17.
"Gazprom has an excess of natural gas and therefore we have decided to store these volumes in our gas storage facilities," said Abdullayev.
"We have held such talks with Iran and well," said SOCAR president. "For our part, we have expanded the capacity of our gas storage facilities and the supply of Russian gas will become a kind of pilot project for testing their capabilities."
As a result, SOCAR and Gazprom agreed to switch to the temporary swap scheme, he said.
SOCAR president added that the supply of around 10 million cubic meters of Russian gas per day will start next month.
"In total, we are talking about supplying around 2 billion cubic meters of gas per year," he said.