Azerbaijan, Baku, Sept. 24 / Trend A.Badalova /
The consortium of the second phase of Azerbaijani Shah Deniz field development is open to offer some buyers gas supplies fully linked to spot prices, Reuters reported with the reference to BP's Vice-President for Shah Deniz Development Alastair Cook.
"We're fully open to everything and we do not rule out a 100 percent spot linkage to some buyers," Cook said.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, LukAgip - 10 per cent, TPAO - nine per cent and SOCAR-10
percent.
Gas reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters. It is predicted that in the second stage of field development, gas production can be brought up to 24 billion cubic meters a year.
Gas, which will be produced during the second phase of the field development is considered as the main source for the Southern gas corridor projects, in particular, Nabucco West and TAP (Trans Adriatic Pipeline). Azerbaijan plans to export 10 billion cubic metres of gas per year to Europe within the second phase of Shah Deniz field development.