Azerbaijan, Baku / corr. Trend S.Aliyev / The Director-General of France's Company, Gaz de France, Alian Azon, said on 31 May at the meeting with the Azerbaijani Minister of Industry and Energy, Natig Aliyev, that the Company intends to participate in the exploration of a new gas field in Azerbaijan and in the development of deep gas reserves on the fields of Azeri-Chirag-Gunashli, which is estimated at 500 bln cu.m.
In addition, Gaz de France intends to join the project to expand the underground gasholders in Azerbaijan and is considering the possibility of managing the gas-distributing network in Azerbaijan. The representatives of the Company said that Gaz de France possesses infrastructure and market for the sale of gas from the Azerbaijani field of Shah Deniz to Italy and Romania. Gaz de France sells 7-8 bln cu.m of gas to each of these countries annually. However, over the recent period, the gas deliveries have reduced and the French Company intends to compensate them at the expense of gas from Shah Deniz.
The Azerbaijani Minister of Industry and Energy, Natig Aliyev, said that a decision was made to appeal to the Government to begin talks with Gaz de France. According to the contract signed in 1994 by Azerbaijan, BP and its partners to the project of Azeri-Chirag-Gunashli have the right to develop the oil to its maximum. In addition, the contract states that the development of low oil reserves is a subject which involves a separate contract.