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Azerbaijan-Turkey Gas Agreements Signed

Source: www.gulfoilandgas.com 10/31/2011, Location: Asia

Azerbaijan and Turkey have signed a number of key gas export related agreements to enable Turkey to buy gas from Azerbaijan and to transit Azerbaijan gas through Turkey to Europe.

The documents signed in Izmir (Turkey) on Tuesday, October 25, included an Intergovernmental Agreement (IGA) between the Government of Azerbaijan and the Government of Turkey, Gas Sales Agreements between SOCAR and BOTAS and also between the Azerbaijan Gas Supply Company (AGSC) and BOTAS International Limited (BIL), a Gas Transit Agreement between SOCAR and BOTAS and a Framework Agreement (FA) setting the general terms and conditions for transit of gas sourced from Azerbaijan through the territory of Turkey.

The IGA and FA contemplate transit through Turkey either via an upgrade to the existing BOTAS transmission network or via the development of a new-build pipeline across Turkey.

The execution of the documents was witnessed by the President of the Republic of Azerbaijan H.E. Ilham Aliyev and the Prime Minister of the Republic of Turkey Recep Tayyip Erdogan.

The documents were signed by the Minister of Industry and Energy of Azerbaijan Natig Aliyev and the Minister of Energy and Natural Resources of Turkey Taner Yildiz, as well as SOCAR President Rovnag Abdullayev, the President for the Azerbaijan-Georgia-Turkey Region of BP and the Operator of Shah Deniz field, Rashid Javanshir and General Manager of BOTAS Fazil Senel.

The agreements provide a legal framework to regulate the sale of Shah Deniz gas to Turkey and its transportation to European markets through Turkey.

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