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Reports: Russia, Azerbaijan agree new gas deal

Reports: Russia, Azerbaijan agree new gas deal

Russia's president on Monday clinched a major new natural gas deal with Azerbaijan on Monday, striking a blow to Western efforts to find alternatives to Russia for energy supplies.
Russian President Dmitry Medvedev traveled to the capital of Azerbaijan, Baku, along with the chief of Russia's state-run natural gas monopoly, Gazprom, to oversee the deal's signing.
Gazprom CEO Alexei Miller and Rovnag Abdullayev, head of State Oil and Gas Company of Azerbaijan, signed an agreement for Russia to buy gas from Azerbaijan, Russia news agencies reported. No details were immediately made available.
Miller said last week that the company could be expected to sign an agreement with Azerbaijan's state oil and gas company on buying natural gas from the country's largest gas field, Shah Deniz. He said Russia could begin buying Azerbaijan's gas as early as 2010.
Miller said that Russia would intially purchase a small amount of gas, but the supplies could increase in the future. Azerbaijani President Ilham Aliev said Russia would get more gas when production increases, in comments carried by Russian news agency RIA Novosti.
The United States and Europe have long courted Azerbaijan and its vast energy reserves as an alternative source of oil and gas. European officials are looking to build a major pipeline, called Nabucco, that would bring Caspian and Central Asian gas to Western markets.
A new Russian deal with Azerbaijan would create fresh doubts over the Nabucco project's ability to source gas.


Updated : 2021-07-26 08:59 GMT+08:00