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Gaz de France Suez intends to buy gas in Azerbaijan

Oil&Gas Materials 29 June 2010 17:25 (UTC +04:00)
Gaz de France Suez is looking to buy Azerbaijani gas, and is particularly interested in the second stage of development of the offshore Shah Deniz Field, Deputy CEO and General Director Jean Francois Cirelli said at a meeting with Deputy Industry and Energy Minister Natig Abbasov.
Gaz de France Suez intends to buy gas in Azerbaijan

Azerbaijan, Baku, June 29 / Trend E. Ismayilov /

Gaz de France Suez is looking to buy Azerbaijani gas, and is particularly interested in the second stage of development of the offshore Shah Deniz Field, Deputy CEO and General Director Jean Francois Cirelli said at a meeting with Deputy Industry and Energy Minister Natig Abbasov.

Cirelli is also the president of the EU Natural Gas Industry (Eurogas), which includes roughly 50 main gas industry facilities and energy associations.

He added that Gaz de France Suez provides the European market with 30 percent of its gas - or roughly 100 billion cubic meters. The company receives about 20 percent of its gas from Russia, 40 percent from Norway, and the remaining 40 percent from the Netherlands, Egypt and Algeria.

The company also participates in explorations on the Absheron structure. Exploratory wells valued at $200 million will soon be drilled.

Absheron participants include SOCAR (40 percent), Total (40 percent and Gaz De France Suez (20 percent).

According to the forecasts, about 5,000 meters will be drilled by late 2010. The reservoir will be reached by January-February. Drilling will be conducted at depths of 470-480 meters. The well depth will reach 7,100-7,200 meters. Absheron is characterized by its high pressure.

The Absheron Bloc is located 100 kilometers outside Baku at a depth of 500 meters.

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