Azerbaijan, Baku, Sept. 19 /Trend E. Ismailov/
Italian companies will obtain about eight billion cubic meters of gas on the basis of commercial contracts, signed with European customers in Baku for the supply of Azerbaijani gas from the second phase of development of Shah Deniz gas and condensate field, the Vice President of Investment and Marketing of the State Oil Company of Azerbaijan (SOCAR) Elshad Nasirov told journalists.
"One billion cubic meters of gas a year from the Shah Deniz-2 field will account for Bulgarian and Greek sides," Nasirov said.
The long-term contracts for sale of gas, which were signed today, are meant for 25 years.
Contracts on purchase of gas from the second phase of development of Shah Deniz field were signed in Baku with Shell, Bulgar gas, DEPA, Gas Natural Fenosa, EON, Gaz de France, Hera, Enel, Axpo.
The first gas will be delivered to Turkey in 2018, and in 2019 to Europe.
The gas will be delivered to Europe via the Trans-Adriatic Pipeline (TAP).
The TAP project is designed to transport gas from Caspian region through Greece, Albania and Adriatic Sea to the south of Italy, and then to the Western Europe.
The initial capacity of TAP will amount to 10 billion cubic metres per annum with the possibility of expanding to 20 billion cubic metres per annum.
Currently TAP's shareholders include BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (16 percent), Total (10 percent), E.ON (9 percent) and Axpo (5 percent).
The construction of TAP is planned to start in 2015.