Global Business in Iran Database
In-depth metrics and analysis of Iran's international economic partnerships.
Azerbaijan - Iran Sign Large Gas Deal
description
Azerbaijan initially agreed to export to Iran 5 billion cubic meters of gas per a year. The gas is destined for consumption in Northern Iran. Iran is the third largest consumer of natural gas in the world. Azerbaijani-Iranian bilateral trade stands at $700 million.
On 11 November 2009, SOCAR and Iran agreed that a year from 2010 Azerbaijan would begin exporting 500 million cubic meters of natural gas a year via the Astara gas pipeline. The volume of natural gas exports would increase in the future. Both countries are reparing and upgrading their existing pipeline infrastructure.
The Tehran Times amended the volume of gas to be sold per annum in January 2010. The reported export volume will be 1.8 billion cubic meters, according to sources.
- Country: Azerbaijan
- Client: National Iranian Gas Company
- Contractor: State Oil Company of Azerbaijan Republic (SOCAR)
- Amount (Current Dollar Value): 1.8 Billion Cubic Meters of Gas per Year
Status
- Current Status:
- Discussion Date: Tue, 2009-09-15
- Contract Date: Tue, 2009-09-15
- Completion Date:
Citation
1. "Iran, Azerbaijan Finalize Gas Deal." Mojnews. 16 September 2009. Available at http://www.mojnews.com/en/Miscellaneous/ViewContents.aspx?Contract=cms_C...
2. "Iran to Buy 5 Billion Cubic Meters of Azerbaijani Gas per Year." Today.AZ. 15 September 2009. Available at http://today.az/news/business/55612.html.
3. "Tehran, Baku to finalize gas deal in three months", Tehran Times, 21 January 2010, available at http://www.tehrantimes.com/index_View.asp?code=212732.
4. "Azerbaijan and Iran sign a memorandum on gas exports", APA.AZ, 11 November 2009, available at http://en.apa.az/news.php?id=110839.
