SOCAR expects to buy 3-5 bcm of gas from Gazprom per year

The State Oil Company of the Azerbaijani Republic (SOCAR) plans to buy 3 billion to 5 billion cubic meters (bcm) of gas a year from Russia's Gazprom (MOEX: GAZP), SOCAR President Rovnag Abdullaev told journalists on Wednesday.


"We presented our proposals to the Russian company and we are waiting for their reply. We are talking about a purchase of 3 billion to 5 billion cubic meters of gas per year. The ball is in their court," Abdullaev said in response to a question from Interfax.


He said the majority of Russian gas imports will be pumped into underground gas storage facilities in Azerbaijan in order to verify their maximum storage capacity.

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