TODAY.AZ / Business

AIOC to bring volume of oil gas handed over to Azerbaijan up to 3 b cu metres

29 March 2006 [10:44] - TODAY.AZ
Azerbaijan may hand over about 3 billion cubic metres of oil gas to the Azerbaijani side this year.

According to the Minister of Industry and Energy Natig Aliyev informing about it, an agreement on handing over approximately 1.4 billion cubic metres of oil gas to the government of Azerbaijan was achieved in negotiations held with the management of AIOC at the end of the last year.

However, because this year Russia raised the price of gas imported to Azerbaijan, it was agreed to bring this volume up to 3 billion cubic metres in order to increase the energy balance of the country.

The Minister also noted that AIOC laid down conditions to SOCAR on starting negotiations on development of gas fields in return for increasing gas volume.


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