Azerbaijan, Baku, June 7 / Trend /
Azerbaijan and Turkey have signed an agreement on a package of gas issues in Istanbul today. The agreement was signed by Azerbaijani Minister of Industry and Energy Natiq Aliyev and Turkish Minister of Energy and Natural Resources Taner Yildiz, CNN Turk TV channel reported.
The agreement involves a change in prices for Azerbaijani gas for Turkey in the first stage of gas-condensate field Shah Deniz, gas prices under the second phase of the project, as well as the transit of Azerbaijani gas through Turkey.
The contract to develop the offshore field Shah Deniz was signed June 4, 1996. Members of the agreement are: BP (operator) - 25,5 percent, Statoil - 25,5 percent, NICO - 10 percent, Total - 10 percent, LUKOIL - 10 percent, TPAO - 9 percent, SOCAR - 10 percent. Shares of Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
A peak production from the field within the first stage of development is projected at 8,6-9 billion cubic meters. According to the forecasts, gas production will be increased by another 16 billion cubic meters per year within the second stage of development of the field.