Russian and Azerbaijan are about to change their gas ratios.

Azerbaijan last week agreed to more than double its natural gas exports to Russia, through the Azerbaijani state oil company SOCAR.

A formal agreement between SOCAR and Russian gas giant Gazprom was signed with Russian President Dmitry Medvedev during his visit to Azerbaijan last week.

The new agreement supplements an earlier accord signed by the two firms covering a period of from 2010 up to 2015, in which Azerbaijan will now increase its gas exports to Russia to 2 billion cubic meters per year from 2011 and to over 2 billion cubic meters per year from 2012.

The original accord was an agreement for Azerbaijan to export no less than 500 million cubic meters of gas to Russia annually.