Headed by Alexey Miller, Chairman of Gazprom’s Management Committee, a Gazprom delegation today paid a working visit to Azerbaijan. Within the visit Alexey Miller met with Ilkham Aliev, President of Azerbaijan.

The parties discussed the prospects for cooperation deepening between Gazprom and Azerbaijani companies in the oil and gas industry.

In the course of the talks Alexey Miller made a proposal on the purchase of Azerbaijani gas at market prices based on a long-term agreement. “Being a prominent hydrocarbon producer in the CIS countries, Azerbaijan is Russia’s objective partner as we have common interests. We are already linked by a developed gas transportation infrastructure. We are interested in developing the mutually beneficial cooperation between Gazprom and Azerbaijan in the energy sector,” marked Alexey Miller.

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Azerbaijan holds up to 1.5 tcm of proven natural gas reserves including the Shakh-Deniz field located in the Azerbaijani offshore sector of the Caspian Sea with recoverable reserves reaching nearly 1.3 tcm of natural gas.

Gas consumption in Azerbaijan accounts for 10-11 bcmpa.