Middle East Economic Survey


No 15



Socar And DEPA Finalize Direct Gas Sales Agreement

Nearly four years after Azeri gas was first delivered to European Union countries via the 3 bcm/year capacity Interconnector Turkey-Greece (ITG) pipeline, Azerbaijan and Greece on 4 April signed a memorandum of understanding for direct gas sales. Up to 700mn cu ms per year of Azeri gas has so far been exported to Greece under a re-export agreement between Greek utility DEPA and...