U.S. welcomes new Azerbaijan-Turkey transit agreement

Photo: U.S. welcomes new Azerbaijan-Turkey transit agreement 
 / Oil&Gas

Azerbaijan, Baku, Nov. 2 / Trend , E.Tariverdiyeva /

U.S. Secretary of State Hillary Clinton welcomed the important energy agreements that Azerbaijan and Turkey have recently signed, the U.S. Department of State reported.

"I would applaud the recent signing by Prime Minister Recep Tayyip Erdogan and President Ilham Aliyev of Azerbaijan of a very important energy agreement," she said.

"We are exploring the ways the United States can help Turkey take advantage of advanced bond and capital markets in a way that would have been impossible only five years ago," Clinton said during a speech at the annual conference on the U.S.-Turkish relations in Washington on Oct. 31.

In late October, Azerbaijan and Turkey signed a package of gas contracts which includes cost issues of Azerbaijani gas for Turkey in the Shah Deniz-2 project, volume of gas supplies to Turkey from the field after 2017, as well as a transit agreement for Azerbaijani gas transportation through Turkey.

Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants in the agreement are: BP (operator) - 25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.

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