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SOCAR describes preliminary dates of authorization for Shah Deniz-2

Oil&Gas Materials 13 September 2011 22:52
SOCAR describes preliminary dates of authorization for Shah Deniz-2

Azerbaijan, Baku, Sept. 12 /Trend, E.Ismayilov/

Authorization for the full-scaled development of Shah Deniz field is expected to be received after November this year, a senior official of SOCAR (State Oil Company of Azerbaijan) said on Monday.

He said the process of negotiations with the Turkish Botas State Pipeline Company is planned to be completed by the end of September, as a result of which, a transit agreement will be signed on transportation of Azerbaijani gas via Europe.

"This will enable partners on Shah Deniz to determine the investment plan and work for next year. Authorization for the development of the second phase of the project is expected to be received after November this year," said the representative of SOCAR.

He said there is no problem in negotiations with the Turkish side, but there are issues that require discussion, including commercial, legal. Since Turkey has not yet served as a transit country, respectively, it is required to bring the legal framework of this country into line with new conditions, suggesting transit.

A transit agreement must be concluded with Turkey in order to transport Azerbaijani gas, particularly from the Shah Deniz field to Europe.

The gas produced from the second stage of Shah Deniz field development is considered as the main source for the Southern Gas Corridor. Under the Shah Deniz-2 project, Azerbaijan plans to deliver 10 billion cubic meters gas to Europe.

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