Azerbaijan, Baku, Aug. 16 / Trend E.Ismayilov /
Azerbaijani gas could be transported to Bulgaria via the Black Sea, the State Oil Company of the Azerbaijan Republic told Trend today. The supplies could reach 2 billion cubic meters per year.
The project would be complex and requires further research and negotiations, the source added.
However, he stressed that transporting the 2 billion cubic meters of gas per year would be a profitable venture.
Bulgaria could buy a specific volume of the gas and send the rest to foreign markets, he said.
Azerbaijan and Bulgaria signed a memorandum to deliver 1 billion cubic meters of gas in 2009.
Earlier, Azerbaijani Industry and Energy Minister Nattig Aliyev said Azerbaijan may begin gas deliveries to Bulgaria during the first stage of development of the Shah Deniz Field.
The source said the additional volumes of gas would be obtained from Shah Deniz by increasing the annual peak production by 1.3-1.4 billion cubic meters. Roughly 8.6 billion cubic meters have already been contracted.
According to Bulgarian media, Baku hosted a meeting last week with Bulgartransgaz President Ivan Drenovichki. Drenovichki said Azerbaijan could provide up to 50 percent of the country's gas supplies. However, the sides noted that the project could not be implemented before 2013.