Middle East Economic Survey


No 3



NIGC And Socar Sign Five-Year Gas Supply Agreement

Irans Minister of Petroleum Masoud Mirkazemi and Rovnag Abdullayev, president of Azeri state firm Socar, on 12 January signed a strategic gas supply agreement in Baku. The agreement will allow commercial exports of Azeri gas to Iran beginning on 1 February. It is independent of the 25-year swap deal signed in 2005, under which Iran imports around 365mn cu ms of Azri gas per year in...