ECONOMY
AZERIGAS RESUMES GAS SUPPLY TO ALL THE REGIONS OF AZERBAIJAN
Mr Melikov said that due to the 5-day hiatus that repair work was being done on the pipeline, Azerbaijan did not receive 35 million m3 of gas from Itera. To make up for this loss, the country was importing 10 million cubic meters of gas daily instead of the 7 million cubic meters. By the end of the month, it is expected that the Russian company would have made up for the unsupplied volumes of gas.
Gas supply to Azerbaijan is done on the basis of a contract signed between SOCAR and Itera in 2002 for the supply of 4 bcm of gas per year at the price of USD52 per 1000 cubic meters. That apart, in April this year a supplementary contract was signed between Azerigas and SOCAR for the supply of 1.5 billion cubic meters of gas at the same price. Gas imported into the country is mainly used as fuel at the thermal electric stations to produce electricity.