Azerbaijan to Increase Natural Gas Supply to Russia

The State Oil Company of Azerbaijan Republic (SOCAR) will increase the volume of natural gas that it supplies to Russia under a new addition to an existing contract with Gazprom.

The two firms have signed an addendum to a gas purchase and sale contract that was agreed in October 2009.

SOCAR will increase the annual volumes of gas purchase to two billion cubic metres starting from 2011 and to over two billion cubic metres from 2012.

Under the agreement Russia has received up to one billion cubic metres of Azerbaijani gas a year since January 2010.