Azerbaijani gas supplies to Turkey to increase in 2012

Oil&Gas Materials 12 January 2012 16:19 (UTC +04:00)

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

According to forecasts, 6 billion cubic meters of gas will be supplied from Shah Deniz in the Azerbaijani sector of Caspian Sea from Azerbaijan to Turkey in 2012, a source on the oil and gas market told Trend today.

"According to the forecasts, about 6 billion cubic meters of the total volume of gas, which will be extracted on the field Shah Deniz this year (8 billion cubic meters) will be delivered to Turkey," the source said.

The source said about 3.8 billion cubic meters of gas from the Shah Deniz field were supplied to Turkey in 2011.

According to the contract, Turkey must receive 6.6 billion cubic meters of gas from the first stage of Shah Deniz field development (total reserves hit 1.2 trillion cubic meters).

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