BAKU — Azerbaijan signed contracts Thursday to supply European buyers with gas, offering Europe an alternative supply source to Russia toward the end of the decade.
State oil and gas firm SOCAR said Thursday that buyers of Azeri gas from its Shah Deniz II project are Shell, Bulgargas, Gas Natural Fenosa, Greek DEPA, Germany's E.ON, French GDF Suez, Italian regional utility Hera Trading, Swiss AXPO and Italian Enel.
"It is a ground-breaking contract as it secures supplies to Europe from a new supply region for decades at conditions reflecting European gas markets," Christopher Delbruck, the newly appointed CEO of E.ON Global Commodities SE, said in a statement.
He added that E.ON's contract with SOCAR spanned 25 years during which the company would get 40 billion cubic meters of gas.
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