Azerbaijan and Greece Sign Gas Memorandum
Azerbaijan, Baku / corr Trend I.Khalilova / An official signing ceremony of a Memorandum on Cooperation in the oil and gas field between Azerbaijan and Greece took place in Baku on 2 August.
Heydar Babayev, Azerbaijani Minister for Economic Development, and Dimitris Sioufas, the Greek Minister for Development, signed the document.
Babayev noted that this is the fist document that Azerbaijan has signed with a European country regarding oil and gas cooperation. In future there are plans to sign a trilateral memorandum, on the basis of which gas deliveries will be carried out to Europe. "The memorandum is part of four-lateral document, which will involve Italy and Turkey along with Greece and Azerbaijan," he added.
The document notes that in future there are plans to transport gas to Greece and onwards to other countries of Europe. In addition, the parties noted the importance of co-operation in the oil sector, in the exploration of oil and gas and the production of hydrocarbons.
The commissioning of the gas pipeline, which will deliver natural gas from the Shah Deniz field to Greece and Italy via Turkey, is scheduled for 15 September.
On 26 July Italy, Turkey and Greece signed an agreement to construct a pipeline section which was to connect Turkey with Greece and to operate by the end August. Work on the construction of the pipeline between Italy and Greece is to be launched in 2008.