BAKU, Azerbaijan, June 2 (UPI) -- Russian energy giant Gazprom said Monday it reached an agreement to purchase natural gas from Azerbaijan at European market prices.
As part of a long-term contract, Gazprom chief Alexei Miller said following a meeting with Azerbaijan officials that the two countries were interested in bilateral energy cooperation, RIA Novosti reported.
"We are interested in developing mutually beneficial relations between Gazprom and Azerbaijan in the energy sector," Miller said.
Azerbaijan, along with a consortium of seven other companies including France's Total and Norway's StatoilHydro, is currently developing its Shah Deniz field, which has reported reserves of more than 35.3 trillion cubic feet.
Officials from neighboring Kazakhstan, Turkmenistan and Uzbekistan signaled in March they would begin selling gas to Russia at European market prices in 2009.
