ECONOMY
RUSSIAN’S ITERA INTENDS TO RENEW GAS SUPPLIES TO AZERBAIJAN
Staying on the aim of the visit he stressed that he arrived to sum up the work of the company in Azerbaijan and to declare about its intention to continue the work here. Itera were urges to build up thermoelectric power station in Azerbaijan. But chief of the company not informed about any details of the project having noted that it will depend on negotiations with the government.
There were on october 2000 SOCAR and Itera signed gas supplies agreement, after date 4 bn cubic meters of gas were delivered to Azerbaijan at $52 per 1000 cubic meters of gas. However, the gas deliveries were interrupted in beginning of 2004. The gas imported only according to an Agreement signed on December 2003 between a Russian company Gasexport (Gasprom subsidiary) and SOCAR.