SOCAR to continue activities to create transparent transit corridor for gas supplies to European markets
Azerbaijan, Baku, June 3 /Trend, E.Ismayilov/
SOCAR (State Oil Company of Azerbaijan) in 2011-2012 will continue activities to create a transparent transit corridor for gas supplies to European markets, the deputy vice-president of SOCAR Vitali Beylarbeyov said Friday.
He said it deals with not only natural gas supplies as part of the second stage of Shah Deniz field development. In particular, SOCAR has plans for gas production from the Umid field, development of perspective structure "Babak", is preparing to sign a contract with Germany's RWE on perspective structure "Nakhchivan", negotiates with the parties to Azeri-Chirag- Guneshli project on production of deep gas.
Beylarbeyov also said negotiations are conducted with pipeline consortiums Nabucco, ITGI, Trans-Adriatic gas pipeline, negotiations are continuing with gas customers, including Romania, Greece, Bulgaria, Italy and other countries.
Also work continues to supply oil to European markets. About 45 percent of Azerbaijani oil is sold on the Mediterranean market. Another 20 percent is sold to North American markets.
Today, work is continuing on the creation of the Eurasian oil transportation corridor. Ukraine, Poland, Lithuania, Georgia are interested in this project.
SOCAR also considers the prospects for oil supplies to the Czech Republic, Slovakia, Hungary.
Beylarbeyov said SOCAR currently conducts a variety of activities, including retail sales of petroleum products, gas distribution, petrochemicals and others.