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Azerbaijan, Turkey sign agreement on gas transit to Europe (UPDATE)

Oil&Gas Materials 25 October 2011 20:01
Azerbaijan and Turkey on Tuesday signed a package of gas contracts, which includes issues of cost of Azerbaijani gas for Turkey in the second stage of Shah Deniz, volume of gas supplies to Turkey from the field after 2017, as well as a transit agreement for Azerbaijani gas transportation through Turkey, TRT Haber reported.
Azerbaijan, Turkey sign agreement on gas transit to Europe (UPDATE)

Information on signing agreement was added (first version was posted on 19:05)
Azerbaijan, Baku, Oct. 25 /Trend, A.Tagiyeva/

Azerbaijan and Turkey on Tuesday signed a package of gas contracts, which includes issues of cost of Azerbaijani gas for Turkey in the second stage of Shah Deniz, volume of gas supplies to Turkey from the field after 2017, as well as a transit agreement for Azerbaijani gas transportation through Turkey, TRT Haber reported.

According to Turkish Star newspaper, Minister of Energy and Natural Resources of Turkey Taner Yildiz and Minister of Industry and Energy of Azerbaijan Natig Aliyev signed an inter-governmental agreement on the sale and transportation of Azerbaijani gas from the second stage of Shah Deniz field development.

Chairman of the Board of the Turkish Botas State Pipeline Company Fazil Shenel and President of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev signed an agreement on the sale-purchase of gas. The head of Botas and President of BP Azerbaijan Rashid Javanshir signed an agreement on gas transit.

The transit agreement is necessary for the implementation of projects of Azerbaijani gas to Europe within the Southern Gas Corridor.

The gas produced during the second stage of Shah Deniz field development is regarded as the main source for the 'Southern Gas Corridor' project. Within Shah Deniz-2 project, Azerbaijan is planning to deliver 10 billion cubic meters of gas to Europe.

The South Corridor is a priority EU energy project diversifying energy supply routes and sources and increasing EU energy security. The Southern Corridor includes the Nabucco gas pipeline, Trans Adriatic Pipeline (TAP), White Stream, and ITGI (Turkey-Greece-Italy pipeline).
Now partners in the Shah Deniz development consider proposals from these pipeline projects to determine the route via which Azerbaijani gas will be delivered to Europe.

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