U.S, Washington, Dec. 7 / Trend /
The issue of Azerbaijan's gas transit through Turkey to Europe will soon be resolved, Turkish Foreign Minister Ahmet Davutoglu said in an interview with Trend .
"I think the problem between our countries relating to transit prices is solvable. We soon will find a solution," he said. "Our delegation is discussing this topic with Azerbaijan today. Turkey and Azerbaijan speak with one voice on a number of regional issues. Nabucco is one," Davutoglu said.
Azerbaijan and Turkey are negotiating a transit agreement to export Azerbaijani gas to Europe via the Southern Corridor, which includes the Nabucco Pipeline. Pipeline projects such as ITGI and Trans-Adriatic are also interested in transporting Azerbaijani gas.
The sides are mulling transit prices on Azerbaijani gas.
Azerbaijani gas is supplied to Turkey at $120 per 1,000 cubic meters. However, the cost of gas for consumers on Turkey's domestic market is around $380 per 1,000 cubic meters.
As stated in the contract with Turkey, the gas transit price from Shah Deniz can be reviewed after one year, which means a new price can be introduced April 15, 2008.
Under the current contract, Turkey must receive 6.6 billion cubic meters of gas from Shah Deniz in the first stage of the field's development.
A contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP - 25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent and SOCAR - 10 percent.
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