Azerbaijan, Greece to mull co-op in energy sphere
Baku, Azerbaijan, Feb.6
By Seba Aghayeva - Trend:
Greek Minister of Productive Reconstruction, Environment and Energy Panagiotis Lafazanis is scheduled to visit Azerbaijan on Feb.12 and discuss the issues of cooperation in the energy sphere, Greek embassy in Azerbaijan told Trend on Feb.6.
He will take part in the first meeting of the Advisory Council of the Southern Gas Corridor.
The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe.
A final investment decision was made on Dec.17, 2013 on the Stage 2 of the Shah Deniz offshore gas and condensate field's development. The gas produced at this field will first go to the European market (10 billion cubic meters).
The contract for development of the Shah Deniz offshore field, which has proven reserve of 1.2 trillion cubic meters of gas, was signed on June 4, 1996.
The shareholders for the development of Shah Deniz field are: SOCAR (16.7 percent), BP (28.8 percent), Statoil (15.5 percent), NICO (10 percent), Total (10 percent), Lukoil (10 percent) and TPAO (9 percent).
Edited by SI
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