Azerbaijan intends to increase gas supply to Russia

Azerbaijani state oil corporation SOCAR recently announced that the country is ready to provide Russia with seven billion cubic metres of natural gas annually. In return, Russian state-owned oil giant Gasprom expressed its readiness to buy more gas from Azerbaijan.

Meanwhile Azerbaijan is continuing its negotiations with Turkey on the construction of the TANAP trans-Anatolian oil pipeline which could transport 16 billion cubic metres of gas annually.