A visit by President Medvedev to Baku has produced an agreement for Russia’s Gazprom to buy unlimited amounts of Azerbaijan’s natural gas.
Within the coming two years, the annual sales should increase form half a billion to far upwards of two billion cubic metres. This free-wheeling trade is a boon from no transit territories between this country and Azerbaijan. The discovery of rich gas fields has transformed Azerbaijan from an importer of natural gas into a major exporter of this priceless commodity.
Uncertainties and lack of action over the Nabucco project to pump Caspian gas to Europe across Turkey have persuaded Azerbaijan to export its natural gas to the West across Russia and with the help of this country’s Gazprom. Importantly, the Azeris are getting the same price they would have got from the European Union.
There was a closing comment from President Dmitry Medvedev.
As neighbours and big energy powers, Russia and Azerbaijan share interests and are destined to cooperate in the energy sector. Today’s gas agreement is a highly encouraging instance of such cooperation.
The Medvedev visit also produced a land border agreement, a deal for sharing the water resources of the River Samur and an understanding to continue diplomacy to resolve the separation crisis in Nagorny Karabakh, an Armenian-populated enclave inside Azerbaijan.
President Medvedev again. Despite difficulties in the way, the interested sides can now report good progress on the Karabakh issue. This progress is the result of lengthy discussions and substantive talks. The negotiations are going on and will hopefully continue to pick pace.
Medvedev’s hosting counterpart Ilham Aliyevsaid: "I offer words of high praise for the personal role of President Dmitry Medvedev in the Karabakh peace process. Whenever Medvedev steps in, the Karabakh negotiations get a big boost."
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