Prices not to be reconsidered within first development stage of Azerbaijani Shakh Deniz field
Azerbaijan, Baku, July 3 / Trend E. Ismayilov /
Prices for gas bought by Azerbaijan within the first development stage of Azerbaijani offshore gas-condensate field Shakh Deniz are not envisaged to be reconsidered, SOCAR (the State Oil Company of Azerbaijan) high-ranking representative said on July 3. This field is developed by consortium of foreign companies headed by BP.
"Prices are not envisaged to be reconsidered. There is constant price in the amount of $54. This price is acceptable and normal for us," SOCAR representative said.
Azerbaijan got 677.3 million cubic meters of gas from Shakh deniz gas condensate field of Azerbaijan in January-May compared to 916.6 million cubic meters within similar period of 2008, SOCAR said earlier.
Roughly 262 million cubic meters of total volume of gas fall on share holding of SOCAR in Shakh Deniz project, the rest 415.3 million cubic meters of gas were bought by SOCAR.
The contract for development of Shakh Deniz offsore field was signed on June 4, 1996. participants of the agreement are BP (operator) -25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, State Oil Company of Azerbaijan - 10 процентов.
Presently, gas is transported to Georgia and Turkey via South Caucasian gas pipeline. Over 9 billion cubic meters of gas will be extracted within Stage-1 of Shakh Deniz development project in 2009.
Realization of the second development stage of Shakh Deniz is planned to be launched by 2014. Totally 20 billion cubic meters of gas are planned to be extracted within the second phase annually.
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