SOCAR, Gazprom to Swap Gas

The State Oil Company of Azerbaijan (SOCAR) and Gazprom will start implementing swap transactions on Russian gas supply to Azerbaijan soon, SOCAR President Rovnag Abdullayev told reporters Thursday.

“Gazprom has an excess of natural gas and therefore we have decided to store these volumes in our gas storage facilities,” Trend News quoted Abdullayev as saying.

Abdullayev added that such talks have been held with Iran as well.

“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,” he said.

Supply of around 10 million cubic meters of Russian gas per day will start next month, Trend News reported.

Abdullayev noted that in the future, this gas will be used for supplying Russia’s southern regions.