Thursday, March 30, 2006

Oil and Gas: Azerbaijan looks to Iran

Azerbaijan officials have said that the country may start importing natural gas from Iran if Russia again raises the price of gas.

Industry and Energy Minister Natig Aliyev said, "By reaching an agreement on Iranian gas imports, we will have acquired an alternative energy source."

Last year, Russia's natural gas monopoly Gazprom, almost doubled the price to $110 per 1,000 cubic meters claiming the move was an attempt to bring the price closer to European levels.