Gulf Oil and Gas accountACCOUNT

Azerbaijan May Complete Turkey Gas Talks by Sept 26

Source: Reuters 9/20/2011, Location: Asia

Azerbaijan said it may complete gas transit talks with Turkey to ship exports from its Shah Deniz field to Europe by Sept. 26 and sign a final deal in October, giving a potential boost to the European Union's Nabucco pipeline plans.

"We expect to complete talks with Turkey before Sept. 26.Turkey will be a customer of some amount of gas as well as a transit territory to ship gas to Western Europe," Vagif Aliyev, the head of Azeri state energy firm SOCAR's investment department, told reporters.

Azerbaijan is negotiating to sell Ankara 6 billion cubic metres (bcm) of gas per year from the second phase of the giant Shah Deniz field and to ship 10 bcm to European customers via Turkey.

Talks were resumed with the visit of Turkish Prime Minister Tayyip Erdogan to Baku at the end of July, after breaking off during parliamentary elections in Turkey.

The EU-backed Nabucco is one of three pipeline projects bidding for Azerbaijan to supply 10 bcm of gas per year to be pumped directly to Europe, bypassing Russia.

SOCAR's president said on Tuesday the final deal might be signed during Azeri President Ilham Aliyev's official visit to Turkey in October.

"It's not ruled out that signing of this package will take place in Turkey in October," Rovnag Abdullayev told reporters.

The 27-member bloc announced last week that it had agreed to negotiate a treaty with Azerbaijan and Turkmenistan to bring natural gas from the world's fourth-largest reserves across the Caspian Sea to Europe.

But the European pipeline faces competition for Azeri gas from the Interconnector Turkey-Greece-Italy (ITGI) and the Trans Adriatic Pipeline (TAP).

All three consortiums had already submitted their final commercial proposals to SOCAR.

The Shah Deniz field is being developed by BP and Statoil as well as SOCAR and several others. It is estimated to contain 1.2 trillion cubic metres of gas.

Production began in 2006 and the second phase is expected to come onstream by 2017. Azerbaijan has been in talks with more 20 companies and consortiums looking to buy gas from Shah Deniz II.

Azerbaijan's gas output rose by 11.2 percent in 2010 year-on-year to 26.2 bcm from 23.6 bcm in 2009. The oil-rich country plans to produce 28.0-29.0 bcm of gas this year. Total gas reserves are estimated at 2.5 trillion cubic metres.

Production News in Azerbaijan >>

Azerbaijan >>  4/16/2019 -  SOCAR commissioned its highest-capacity well drilled at Umid field; it will produce 900 million cubic meters of natural gas annually ...
Nigeria >>  4/15/2019 - MX Oil plc, an oil and gas investing company quoted on AIM, announces the following corporate update: ...

Iraq >>  4/14/2019 - Dana Gas PJSC (the "Company"), the Middle East's largest regional private sector natural gas company, announces that during Q1 2019, Pearl Petroleum C...
Russia >>  4/9/2019 - Gazprom Neft Shelf has produced its 10-millionth tonne of oil at its Prirazlomnoye field a fact confirmed by Andrey Patrushev, Deputy CEO for Offsho...

Egypt >>  4/8/2019 - SDX Energy plc announces, the current targeted start-up date for gas production at South Disouq of mid-year 2019 is based on an overall development co...
Australia >>  4/4/2019 - TAG Oil Ltd. is pleased to report that its current gross daily rate of production is over 1,700 boe/d (80% oil) following the recent successful workov...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

Oil & Gas Projects in Azerbaijan >>

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.