Azerbaijan, Iran signs deal for Natural Gas Agreement

Baku and Tehran had announced that it signed a five-year agreement for suppling of Azerbaijani natural gas to Iran.The deal was sealed by representatives of Azerbaijan's State Oil Company (SOCAR) and Iran's National Gas Export Company (NIGEC) with the participation of Iran's visiting Oil Minister and current OPEC Chairman Seyid Masud Mirkazemi.The agreement stated that the export of 1 billion cubic meters of gas to Iran during 2011, beginning February 1, SOCAR spokesperson Nizameddin Quliyevsaid. He said the volume of gas in subsequent years is subject to negotiation.