Iran wants to increase share in largest Azerbaijani gas project - minister (EXCLUSIVE)

Tehran, Iran, Aug. 20

By Temkin Jafarov - Trend:

Iran intends to increase its stake in the largest Azerbaijani gas project Shah Deniz, Mahmoud Vaezi, minister of communications and information technology of Iran, co-chairman of the intergovernmental commission said in an exclusive interview with Trend.

He said that negotiations on this issue are already underway with the Azerbaijani side.

"The Iranian company NICO owns equity in the Shah Deniz project, and we have held talks to increase its stake in the project," said Vaezi.

NICO owns a 10 percent stake in the Shah Deniz project.

Earlier, Mehdi Mohtashami, the head of the secretariat of the Azerbaijan-Iran intergovernmental commission for cooperation in trade, economic and humanitarian spheres, told Trend in an interview that Iran also plans to acquire a stake in the TAP project, which assumes the delivery of Azerbaijani gas to Europe.

"Iran is examining various routes for supplying its gas to other countries, and TAP is one of those routes," he said. "We have already had preliminary talks with Azerbaijan and have done certain work in this regard."

As part of the implementation of the Shah Deniz project, the annual gas production volume will increase from 9 billion cubic meters (within the first phase) by additional 16 billion cubic meters in the second phase. Two offshore platforms will be installed and over 20 subsea wells will be drilled to produce additional volumes of gas within Shah Deniz-2 project.

As part of the second stage of the field's development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

The volume of gas produced at Shah Deniz field stood at 5.2 billion cubic meters in the first half of 2015, while the volume of condensate production at this field totaled 1.2 million metric tons (9.8 million barrels), compared to 4.75 billion cubic meters of gas and 1.12 million metric tons of condensate in the same period of 2014.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.

The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPAO (19 percent).

TAP will transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to Europe.
The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

The pipeline's construction is expected to start in 2016.

TAP's initial capacity will be 10 billion cubic meters per year, expandable to 20 billion cubic meters per year.

TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

Edited by CN

---

Follow the author on Twitter: @JafarovTemkin

REAP to promote introduction of sustainable production in Uzbekistan, Tajikistan
REAP to promote introduction of sustainable production in Uzbekistan, Tajikistan
Value of OIC states' import from Turkey shows decline
Value of OIC states' import from Turkey shows decline
Kazakhstan increases exports to Tajikistan over 9M2020
Kazakhstan increases exports to Tajikistan over 9M2020
Loading Bars
Latest
Violence erupts during Paris protest against police brutality
Remittance inflows from Azerbaijan to Georgia up
Iranian Energy Exchange announces products to be on sale on December 6
Azerbaijani, Russian FMs discuss 10 November statement for ceasefire in Karabakh
Children's becoming victims of war crimes is unacceptable - UNICEF
French photographer talks trip to Azerbaijani Kalbajar liberated from Armenian occupation (PHOTO/VIDEO)
Plan & Budget Organization reveals volume of oil to be sold by Iran next year
Armenian opposition demand Pashinyan's resignation before December 8
Kyrgyzstan allows entry of foreigners and stateless persons
Rouhani calls for broadening Iran-Thailand ties
US gov’t donates 26,000 PCR testing kits to Georgia
Effectiveness of Turkish-made weapons was proven during Karabakh hostilities - Turkish Defense Minister
5.3-magnitude quake hits 49 km SW of Gazipasa, Turkey
PM Johnson and EU chief seek to break Brexit impasse
Azerbaijan teaches a lesson how Nations are built to fight against enemies
U.S. sets record of 227,885 COVID-19 cases in one day: Johns Hopkins University
Azerbaijan names day of holding military parade on victory in Patriotic War (PHOTO/VIDEO)
Today flags with star and crescent embellishing Karabakh sky - Turkey's president
Bahar Azadi gold coin price continues to fall
BTK railway project plays important role for logistics dev't in Georgia
Uzbekneftegaz to buy casing pipes via tender
Demand for Turkish steel on Iran's construction market down
Azerbaijan extends COVID-19-related quarantine in some cities, districts
Azerbaijan confirms 4,323 new COVID-19 cases, 2,180 recoveries
Largest volume of metallurgical products falls on Uzbekistan’s Navoi region
Death toll from COVID-19 pandemic in Iran exceeds 50,000
Value of Iranian mining companies increases
Iran talks expenses on construction in Kohgiluyeh & Boyer-Ahmad Province
Preacher appointed to Khudavang monastery in Azerbaijan's Kalbajar
Azerbaijan presents first locally manufactured high-tech prostheses (PHOTO)
Azerenergy issues time framing to restore power plants in liberated Sugovushan (VIDEO)
Georgia reports new record-high 5,450 coronavirus cases
Russia, Kazakhstan reach agreements on anti-COVID vaccine production
Volume of trade turnover in Turkmenistan increases
Uzbekistan reveals its COVID-19 data for December 5
Armenians destroyed all historical, religious items in churches of Azerbaijan - Albano-Udi Orthodox community
Albanian-Udi Christian Community returns to Khudavang monastery in Kalbajar (VIDEO)
Oil market still to see some bumpy months
Indicators of Turkmenistan’s construction, industrial sector increase
Azerbaijani oil prices continue to rise
Azerbaijan reduces imports of Turkish-made carpets
Iran announces date for launch of Ardabil-Mianeh railway
Azerbaijan gives martyr status to civilians killed due to Armenia's attacks on peaceful cities
Azerbaijani Bar Association appeals to int'l organizations regarding Armenian aggression
UK Maritime Trade Operations says aware of attack on vessel off Yemen coast
Number of enterprises put into operation in Iran's Kermanshah Province soars
Special offer for volunteers!
Iran discloses details of exports from Fars Province
Baku - leading capital of CIS in terms of economic activity index - Gazprombank
Data of Turkmen transport, communication sector revealed
Azerbaijani banking sector's overall profit drops
Turkmenistan exceeds plan for oil and gas condensate production
Iranian currency rates for December 5
Loan portfolio of trade, services sector in Azerbaijan grows
Кazakhstan Electricity Grid Operating Company opens tender for vehicle maintenance
Foreign investment in Iran increases
GDP growth observed in Turkmenistan
LNG share in Turkey’s natural gas imports reaches 43% in H1 this year
U.S. not extending TikTok divestiture deadline, but talks will continue
ADB allocates $2.5 mln to support Georgia amid pandemic
Italy's retail sales climb higher in October, pushed by demand for electronic equipment
4 regions in coronavirus red zone in Kazakhstan
Iran's UNESCO envoy urges condemnation of assassination of Iranian scientist
France's daily COVID-19 infections continue to fall
Embassy of Japan in Georgia reveals volume of trade turnover between two countries
Arab League welcomes Kuwait's efforts to "heal Arab rifts"
World Bank grants Morocco 400-mln-USD loan
Azerbaijan slows down imports of Turkish-made leather goods
Additional costs could add up to 2.8 billion dollars, Tokyo 2020 says
Trump to withdraw most troops from Somalia as part of global pullback
UK, EU call in leaders to save trade talks
Palestinian teen killed by Israeli forces in protest
Azerbaijan discloses volume of liabilities in banking sector
Heydar Aliyev Center, Flame Towers and Baku Olympic Stadium illuminated with Azerbaijani flag (PHOTO)
NY Times publishes article on the fate of Ciraqli village during Karabakh conflict
South Africa's second largest crude refinery shutdown after blast
1st China-bound freight train departs on 12-day journey from Istanbul
Chip shortages could slow automotive production, VW and suppliers say
Russia, India kick off joint naval drills in Indian Ocean
NCDC to study COVID-19 reinfection cases
Turkey reports over 32,736 new COVID-19 cases
Azerbaijan unveils funds value received by Armed Forces Relief Fund as of December 1
Kazakhstan, Russia agree on measure to restore ecosystem of transboundary rivers
Iran reveals its COVID-19 data for December 4
Kazakhstan's coal extracting venture to buy spares via tender
French activists protest against Amazon's expansion
Azerbaijani, Bulgarian FMs discuss bilateral cooperation
Azerbaijani public reveres memory of martyrs of Karabakh conflict (PHOTO)
Electricity Market Concept Design defines gradual retail market opening in Georgia
Import of rice by Azerbaijan up
Baku Metro opens tender to buy tire connections
French parliament loses ability to be serious partner – Turkish Grand National Assembly
Investments in Georgian Poti Free Industrial Zone diversified by regional countries
Iran's next years budget unlikely to improve economy - Head of Parliament Plan and Budget Commission
Azerbaijan raises value of imports from Lithuania in 10M2020
Big foreign IT companies entering Georgia's market
Azerbaijan's Compulsory Insurance Bureau compensating bankrupted insurer's creditors
Georgia sees increase in tangerines export
Azerbaijan shows video footage from Yanshag village of Kalbajar district (VIDEO)
EDB, KazakhExport to jointly insure exports of insulated cars from Kazakhstan
All news