13 Ocak 2011 Perşembe

OPEC head appreciates signing gas agreement between Azerbaijan and Iran

OPEC head highly appreciated the signing of a gas agreement between the State Oil Company of Azerbaijan (SOCAR) and National Iranian Gas Export Company (NIGEC) on Wednesday in Baku.

"The signing of the gas contract is a new and great step," Seyed Masoud Mir-Kazemi, who is also the Iranian Oil Minister told Trend in Baku.

The State Oil Company of the Azerbaijan Republic (SOCAR) and National Iranian Gas Export Company (NIGEC) signed an agreement on a long term supplies of Azerbaijani gas to Iran in Baku. Under the contract, which is concluded for 5 years, Azerbaijan will supply 1 billion cubic meters of gas to Iran in 2011 and the volume will increase in the coming years. Gas supplies to Iran will start in February.

Mir-Kazemi said that during his visit to Baku today the issue of storage of the Iranian gas in the Azerbaijani gas storage facilities was also discussed.

According to him, Azerbaijan and Iran reached agreement today in Baku to develop a road map in order to develop energy cooperation.

"At present, relevant works are underway, and it is expected to sign an agreement on this matter after a month," Mir-Kazemi said.

He said in Baku Azerbaijan and Iran agreed to conduct semi-annual meetings of the energy committees, which will discuss issues of cooperation in the oil and gas, as well as electricity spheres.


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