OREANDA-NEWS. September 8, 2011.  The format of cooperation between Azerbaijan and Russia in the energy industry is on the verge of change.

The Ministry of Industry & Energy reports that energy minister Natig Aliyev received Russian deputy energy minister Anatoly Yanovsky. The meeting involved representatives of Azerenerji OJSC (electricity operator), State Oil Company of Azerbaijan (SOCAR) and Russia’s Inter RAO EES, Transneft and Federal Grid Company of Unified Energy System.

The sides discussed issues surrounding amendments and additions to the agreement on Azeri oil transit via Baku-Novorossiysk pipeline from 1996 and the principles of electricity co-operation from 7 October 1995.

The oil transit agreement amendments concern volumes and tariffs (currently it allows transit of up to 5 million tons a year). Power energy agreement will be amended to enable parallel operation of two countries’ energy systems.