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Friday, 17/01/2019, 05:13:56 AM
Gazprom clinches Azeri energy deal
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Gazprom said it clinched a deal yesterday to import small volumes of gas from deposits in Azerbaijan also coveted by Europe.

Imports would begin in 2010 at a rate of 500m cubic metres a year and increase after the second phase of the huge Shak Deniz gas field in the Caspian Sea began production.

The European Union has urged Azerbaijan to commit Shak Deniz gas to the planned Nabucco pipeline to bring Caspian gas across the Caucasus and Turkey.

Russia is trying to tighten its grip on European gas markets by building a rival pipeline across the Black Sea to Europe.

Analysts said Azerbaijan would avoid pledging large volumes of gas to Gazprom that could undermine its independence from Russia.

Isabel Gorst, Moscow

The Financial Times Limited 2009


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