Horlemann: German companies contracted about 2BCM of gas annually from SOCAR

The volume of Azerbaijani gas supplies under long-term contracts between German companies and the State Oil Company of Azerbaijan (SOCAR) is estimated at approximately 2 billion cubic meters per year, German Ambassador to Azerbaijan Ralf Horlemann said at a farewell meeting with journalists, Report informs.

"The gas that the three German companies have contracted from SOCAR – approximately 2 billion cubic meters per year – is very important for stabilizing the European energy market," Horlemann stated.

The ambassador explained that the supplies are being made through swap agreements within the European energy market, primarily with Italy.

"These are long-term agreements, lasting approximately 10 years. I expect this gas volume to increase after this period, but for now, for the first 10 years, it is approximately 2 billion cubic meters per year," he added.