ID :
199736
Mon, 08/08/2011 - 10:28
Auther :
Shortlink :
https://oananews.org//node/199736
The shortlink copeid
Azerbaijan, Turkey to hold talks on gas agreements in late August
Azerbaijan, Baku, Aug.8 / Trend, E. Ismayilov /
Azerbaijan and Turkey plan to hold new round of talks on gas agreements package on Aug. 26, the Head of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said on Monday.
During the talks, some progress should be made in signing gas agreements between the two countries, Abdullayev said.
He said that during Turkish Prime Minister Recep Tayyip Erdogan’s visit to Baku in late July, partners in the development of Azerbaijani "Shah Deniz" gas condensate field held talks with the Turkish pipeline company Botas, during which some progress was achieved in developing agreements.
Azerbaijan and Turkey plan to reach a transit agreement on Azerbaijani gas supplies to Europe in September 2011, Turkish Ambassador to Azerbaijan Hulusi Kilic said earlier.
The transit agreement envisages the sale of 10 billion cubic meters of Azerbaijani gas directly to Europe through Turkey.
Supplying Azerbaijani gas to Europe via Turkey is the second stage of the "Shah Deniz" field development, with the first gas production expected in 2017. Some 10 billion cubic meters of gas per year can be exported to Europe.
A transit agreement must be concluded with Turkey in order to transport Azerbaijani gas, particularly from the Shah Deniz field to Europe.
SOCAR is currently negotiating with potential buyers and transporters of Azerbaijani gas.
However, the contracts, as well as permissions for the launch of the second stage of Shah Deniz development, can be expected only after signing a transit agreement with Turkey.
As SOCAR, the Head of the Foreign Investments Department Vagif Aliyev said earlier that the two sides concluded negotiations on most of the contract’s details, including transit fees, gas volumes, and transportation options. However, disagreements on legal issues still hamper the signing of the agreement.
Aliyev said the volume of investment in the Shah-Deniz-2 project, which given the construction of pipelines can reach $25 - $30 billion, should be safeguarded. One of the ways to obtain such a guarantee is a solid legal framework that would protect the interests of all parties.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996.
Participants to the agreement include BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.
Under the Azerbaijan-Turkey contract, Turkey should annually receive 6.6 billion cubic meters of gas from Shah Deniz. The volume will be 6 billion cubic meters under the Shah-Deniz-2 project.
Azerbaijan and Turkey plan to hold new round of talks on gas agreements package on Aug. 26, the Head of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said on Monday.
During the talks, some progress should be made in signing gas agreements between the two countries, Abdullayev said.
He said that during Turkish Prime Minister Recep Tayyip Erdogan’s visit to Baku in late July, partners in the development of Azerbaijani "Shah Deniz" gas condensate field held talks with the Turkish pipeline company Botas, during which some progress was achieved in developing agreements.
Azerbaijan and Turkey plan to reach a transit agreement on Azerbaijani gas supplies to Europe in September 2011, Turkish Ambassador to Azerbaijan Hulusi Kilic said earlier.
The transit agreement envisages the sale of 10 billion cubic meters of Azerbaijani gas directly to Europe through Turkey.
Supplying Azerbaijani gas to Europe via Turkey is the second stage of the "Shah Deniz" field development, with the first gas production expected in 2017. Some 10 billion cubic meters of gas per year can be exported to Europe.
A transit agreement must be concluded with Turkey in order to transport Azerbaijani gas, particularly from the Shah Deniz field to Europe.
SOCAR is currently negotiating with potential buyers and transporters of Azerbaijani gas.
However, the contracts, as well as permissions for the launch of the second stage of Shah Deniz development, can be expected only after signing a transit agreement with Turkey.
As SOCAR, the Head of the Foreign Investments Department Vagif Aliyev said earlier that the two sides concluded negotiations on most of the contract’s details, including transit fees, gas volumes, and transportation options. However, disagreements on legal issues still hamper the signing of the agreement.
Aliyev said the volume of investment in the Shah-Deniz-2 project, which given the construction of pipelines can reach $25 - $30 billion, should be safeguarded. One of the ways to obtain such a guarantee is a solid legal framework that would protect the interests of all parties.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996.
Participants to the agreement include BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.
Under the Azerbaijan-Turkey contract, Turkey should annually receive 6.6 billion cubic meters of gas from Shah Deniz. The volume will be 6 billion cubic meters under the Shah-Deniz-2 project.
