Azerbaijan can significantly increase its gas exports to Turkey
Kazakhstan, Astana, Nov. 5 / Trend A.Maratov /
Azerbaijan may increase gas supplies to Turkey up to 10.6 billion cubic meters a year with the start of the Stage 2 of the Shah Deniz offshore gas field development in the Azerbaijani sector of the Caspian Sea, Azerbaijani Industry and Energy Minister Natig Aliyev said in an interview with Trend today in Astana.
"Azerbaijan and Turkey signed an agreement on supply of 6.6 billion cubic meters of gas a year [in the first stage of the Shah Deniz project] for 15 years. In summer we have signed an additional agreement with Turkey, according to which Ankara received an option to increase the gas supply from the Stage 2 from 1.2 billion to 4 billion cubic meters a year in case of necessity," Aliyev said.
The contract to develop Shah Deniz was signed in June 1996. Participants are: BP (operator) - 25.5 percent; Statoil - 25.5 percent; NICO - 10 percent; Total - 10 percent; LukAgip - 10 percent; TPAO - 9 percent; and, SOCAR - 10 percent.
Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
Gas is transported to Georgia and Turkey through the South Caucasus gas pipeline.
This year the field will produce 7.84 billion cubic meters of gas. Peak production is forecast at over 8.6-9 billion cubic meters. Gas production may be brought up to 25 billion cubic meters per year under the second phase of development.
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