Azerbaijan, Baku, May 16 / Trend / Turkey plans to increase gas import from Azerbaijan up to 8 billion cubic meters per year, CNN Turk quoted Turkish Prime Minister Recep Tayyip Erdogan as saying.
Under the contract, Turkey will receive about 6.6 billion cubic meters of gas a year from Shah Deniz in Azerbaijan. Last year the figure exceeded four billion cubic meters of gas. It is expected that Turkey will receive 6.7 billion cubic meters of gas from Azerbaijan this year, Erdogan said.
Turkey's gas demand totals more than 32 billion cubic meters today, Erdogan said.
Turkey buys Azerbaijani gas at $120 for 1,000 cubic meters. The contract also stipulates that the gas price can be considered a year after the supplies is launched. So, new prices (which the sides are negotiating) will be applied from April 15, 2008.
Under the contract, 6.6 billion cubic meters of gas will be transported to Turkey via Baku-Tbilisi-Erzurum per year as part of the Shah Deniz-1. Shah Deniz partners plan to achieve this volume in 2009.
The contract on development of off-shore Shah Deniz field was signed on 4 June 1996. The sides to the contract are ВР (operator - 25.5%), Statoil (25.5%), SOCAR (10%), LukAgip (10%), NICO (10%), Total (10%), and TPAO (9%). Field's reserves are estimated at 1.2 trillion cubic meters of gas. The daily production is 22 million cubic meters. The daily production will reach 27 million cubic meters soon due to launch of new well.
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