Itron Expands Gas Smart Payment Meter Project in Azerbaijan

Published on Tuesday, 31 January 2012 08:54 Written by TradersHuddle Staff

LIBERTY LAKE, Wash.-( Business Wire )-

Itron, Inc. (NASDAQ: ITRI) announced today it will provide more than 400,000 gas smart payment meters to SOCAR “Azeri Gas” Production Union (PU), a part of the State Oil Company of Azerbaijan (SOCAR). The new meter deployment follows a previous project that included installing 250,000 smart payment meters in the capital city of Baku. This marks the start of the second phase of the project, which will cover the remainder of the country. The roll-out plan gives Azerbaijan Republic the opportunity to capitalize on the benefits of smart payment technology throughout the entire country.

Meter deployment is underway and will be completed in February 2013. With Itron’s smart payment meters rolling out across Azerbaijan, consumers will benefit from the convenience of recharging their payment cards at several points of sales located throughout the country, including self-service terminals. With increased availability and simple access, consumers will be better equipped to effectively manage their gas consumption.

“We constantly strive to streamline our operations and offer the best service to our customers; Itron’s technology helps us achieve both goals,” said Mr. Akbar Hajiyev, managing director, SOCAR “Azerigas” PU. “Selecting Itron for our phase-two deployment was based on the success of our phase-one project. After rolling out 250,000 meters in 2010, we know that Itron’s solution can scale up to meet our needs nationwide.”

“We are dedicated to continuing our long-term partnership with SOCAR “Azeri Gas” PU,” said Muness Charara, Itron regional manager, Middle East Energy. “We’ve delivered gas smart payment meters to Azerbaijan since early 2010, and we believe the service and support we’ve provided will now help us build a strong gas smart payment metering platform in the Caspian region of Central Asia.”

About Itron

Itron is the leading provider of energy and water resource management solutions for nearly 8,000 utilities around the world. We offer end-to-end solutions that include electricity, gas, water and thermal energy measurement and control technology; communications systems; software; and professional services. With nearly 9,000 employees doing business in more than 130 countries, Itron empowers utilities to responsibly and efficiently manage energy and water resources. To realize a sustainable future, start here: www.itron.com.

About SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions are operating as corporate entities under SOCAR. Joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR's participation, are doing business in different parts of the petroleum industry. SOCAR has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Germany and Ukraine and trading companies in Switzerland, Singapore, UAE and other countries.

SOCAR "Azerigaz" Production Union transmits, distributes, and markets natural gas in the Republic of Azerbaijan. The syndicate also transports SOCAR gas to the Islamic Republic of Iran, Georgia, and the Russian Federation.

Itron, Inc.Lynn Collins, +33 5 49 62 70 46Marketing & Communications, EMEAlynn.collins@itron.comorSharelynn Moore, 509-891-3524Vice President, Corporate Communicationssharelynn.moore@itron.comorBarbara Doyle, +1 509-891-3443Vice President, Investor This e-mail address is being protected from spambots. You need JavaScript enabled to view it.