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Azerbaijan increases gas purchase from Shah Deniz field

Oil&Gas Materials 13 September 2011 17:28

Azerbaijan, Baku, Sept.13 / Trend, E.Ismayilov

Azerbaijan received about 1.18 billion cubic meters of gas from the Shah Deniz gas condensate field in January-August compared to about 1.3 billion cubic meters at the same period of 2010, SOCAR said.

Roughly 313.1 million cubic meters of gas of the total amount received in January-August fell to the equity participation of SOCAR in Shah Deniz project, and the rest - 863.1 million cubic meters of gas from the field were purchased by SOCAR.

Azerbaijan received about 2.2 billion cubic meters of gas from the Shah Deniz gas condensate field in 2010 compared to about 1.3 billion cubic meters in 2009, SOCAR said. Roughly 557.4 million cubic meters of gas of the total amount received in 2010 fall to the equity participation of SOCAR in Shah Deniz project, and the rest - more than 1.6 billion cubic meters of gas from the field were purchased by SOCAR.

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

At present, gas is transported to Georgia and Turkey via the South Caucasus gas pipeline.

The peak production forecasted at over 8.6-9 billion cubic meters. It is planned that in the second stage of field development, gas production can be brought up to 25 billion cubic meters a year.

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