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Turkey offers gas exporting countries to reduce prices

Oil&Gas Materials 7 September 2011 15:10
Countries exporting gas to Turkey should reduce fuel prices, Turkish Energy Minister Taner Yildiz said in an interview with CNN Turk TV channel on Tuesday.
Turkey offers gas exporting countries to reduce prices

Azerbaijan, Baku, Sept.6 / Trend /

Countries exporting gas to Turkey should reduce fuel prices, Turkish Energy Minister Taner Yildiz said in an interview with CNN Turk TV channel on Tuesday.

"We should revise gas prices," Yildiz said.

Turkey imports gas from Azerbaijan, Iran and Russia. In January-July 2011 Turkey imported about 22.2 billion cubic meters of gas from different sources. In 2010 this figure hit 32.5 billion cubic meters compared to 33.62 billion cubic meters in 2009.

Azerbaijan supplies gas to Turkey from Shah Deniz gas condensate field.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.

The contract to develop the offshore Shah Deniz field was signed on June 4, 1996.
Participants to the agreement include BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.

Under the Azerbaijan-Turkey contract, Turkey should annually receive 6.6 billion cubic meters of gas from Shah Deniz. The volume will be 6 billion cubic meters under the Shah-Deniz-2 project.

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