Azerbaijan may sign a "swop" deal with Gazprom on gas purchase and sale - UPDATED

Baku. 5 November. REPORT.AZ/ As purchase for the price mentioned in the existing contract is not profitable for the plant, "AzMeCo" (Azerbaijan Methanol Plant) ceased gas purchase from Gazprom Company on October 20 since methanol price decreased in the world market. "AzMeCo" signed contract with Gazprom Export Company of Russia on September 11 of this year. Under the contract Gazprom OJSC to sell 2 billion cubic meters of gas to "AzMeCo".

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State Oil Company of the Azerbaijan Republic (SOCAR) holds negotiations with Gazprom OJSC of Russia on signing "swop" contract for purchase and sale of gas. 

Report was told in the SOCAR.

"There is no talking about Azerbaijan's refusal of Russian gas", the company says. 

"If offers are not appropriate for Azerbaijan, the contract will not be signed. Azerbaijan has gas resources, but we need for additional gas volume. However, this partnership depends on reasonable price offers", SOCAR stated.