SOCAR: Growth in natural gas prices not affected majority of subscribers

Baku. 17 January. REPORT.AZ/ Rise in natural gas prices has not affected the majority of total number of subscribers. The rise in prices, of course, contributed to the relative growth of SOCAR revenues from sale of natural gas. Because, to meet domestic demand for natural gas in the country, the company buys about half of the natural gas in USD from partners under Production Sharing Agreements (PSA).

Report informs, SOCAR Vice President on Economic issues Suleyman Gasimov said.

He noted that Azerbajani manat’s devaluation forced SOCAR to increase the gas price: "Lower prices and devaluation of the manat forced us to apply to the appropriate state agencies to raise prices for natural gas. We have also used the differentiation. The main customer - “Azerenerji” JSC buys gas for 1000 cubic meters at 120 AZN, Nakhchivan - 75 AZN, main commercial entities - 200 AZN, the population - 100 AZN."