PM's advisor: Agreement on gas transit is political and economic victory of Turkey and Azerbaijan

Oil&Gas Materials 26 October 2011 16:39 (UTC +04:00)

Azerbaijan, Baku, Oct. 26 /Trend, A.Tagiyeva/

Signing an inter-governmental agreement on the transit of Azerbaijani gas via Turkey is a political and economic victory of the two countries, the Turkish Prime Minister's Advisor on Eurasia Geybulla Ramazanoglu said.

"This agreement is an indication of a successful political cooperation," Ramazanoglu told Trend by telephone.

The signing of the Azerbaijani-Turkish agreement shows how Turkey and Azerbaijan are close from political and economic points of view, and that the two countries have a common position on many regional issues, he said.

According to Prime Minister's advisor, an agreement on gas transit via Turkey will greatly contribute to the economy of both countries. Ramazanoglu also believes that along with

Turkey and Azerbaijan, the agreement on gas transit will be beneficial to other countries, particularly Europe.

"The agreement will pave the way for the implementation of many international projects, which will undoubtedly be beneficial for other countries," he said. Azerbaijan and Turkey on Tuesday signed a package of gas contracts, which includes a transit agreement for Azerbaijani gas from the Shah Deniz field through Turkey to Europe.

Total reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas. The Southern Gas Corridor projects are considered as the gas export routes.

The South Corridor is a priority EU energy project diversifying energy supply routes and sources and increasing 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 are considering proposals from these pipeline projects to determine the route via which Azerbaijani gas will be delivered to Europe.