Monday, January 16, 2006
Azerbaijan's Russian gas imports total 4.5 billion cu m in 2005
BAKU, January 13 (RIA Novosti, Gerai Dadashev) - Azerbaijan imported 4.54 billion cubic meters of Russian gas last year, national oil company Socar said Friday. December imports were around 384.2 million cu m, the company said. Socar paid $61 per 1,000 cu m for its gas last year. Under an agreement between Gazexport, Gazprom's export arm, and Socar, Azerbaijan will receive 4.5 billion cu m of gas at a price of $110 per 1,000 cu m in 2006. Azerbaijan's annual domestic gas needs total 9.5-10 billion cu m, with gas making up 45% of the country's energy mix. Azerbaijan produces around 5.5 billion cu m of gas, and is expected to raise domestic production significantly once its Shakh-Deniz field in the Caspian Sea comes on stream. Under an agreement signed in December 2003, Gazprom is to supply Azerbaijan with 4.5-5.5 billion cu m of gas per year until the end of 2008.