Management of ITGI pipeline project waits for Azerbaijan's agreement on gas sale

Oil&Gas Materials 4 June 2009 15:11 (UTC +04:00)

Azerbaijan, Baku, June 4 / Trend , A.Badalova/

The ITGI (Turkey-Greece-Italy) pipeline project is under a stage of making a final investment decision and waits for Azerbaijan's agreement to sell gas from the second development phase of the Shah Deniz field, ITGI Project Leader and Director of the Italian Edison S.P.A company on business development Elio Ruggeri told Trend capital in Baku on June 4.

"A final investment decision on the ITGI project will be made, when Azerbaijan expresses its readiness to sell gas as part of the second phase of development of the Shah Deniz field," Ruggeri said.

Ruggeri said this project offers Azerbaijan much quicker version to export own gas to Turkey with a minimum additional investment expenses.

"ITGI offers Azerbaijan the most advantageous deal to purchase the gas from the second phase of development of the Shah Deniz field, Ruggeri said.

If the Azerbaijani gas is not available, the company will seek for its alternative versions, Ruggeri said.

"Of course, we consider Azerbaijan as the most interesting source of gas deliveries. But if gas deliveries are not available from Azerbaijan, we will seek for its alternative sources, which is the Russian gas in a short-term period," Ruggeri said.