Azerbaijan, Baku / Trend / Turkey and Azerbaijan have resolved problems and have reached an agreement within the project on the development of gas condensate field of Shah Deniz , of which gas will be exported to the European markets, stated the Energy Minister of Turkey, Hilmy Guler , on the 25th of June.
"I met with the Minister of Energy and Industry of Azerbaijan, Natig Aliyev and we reached an agreement regarding the problem," Gular told Reuters.
Earlier Turkey hoped to export the first Azerbaijani gas to Greece by the end of July, yet presently it is expected to take place in August.
Presently three wells on the Shah Deniz field are fully ready for operation. "Within Phase-1, about 8.6bln cu m of gas will be produced from the development project of "Shah Deniz ". In 2007, 2.8bln cu m of gas will be produced from "Shah Deniz ."
The contract on the development of the offshore Shah Deniz field was signed on the 4th of June 1996.
The participants of the contract are BP (operator) -25.5%, Statoil - 25.5%, NICO - 10%, Total - 10%, LukAgip - 10%, TPAO- 9% and SOCAR - 10%.