Bank Of Baku

Azerbaijan and Turkey to set new gas price by yearend

Azerbaijan and Turkey to set new gas price by yearend
# 15 September 2009 13:14 (UTC +04:00)
Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijan and Turkey have already set forth their positions on the volume and price of natural gas from Shah Deniz in Azerbaijan sector of the Caspian Sea, said Vagif Aliyev SOCAR’s head of external investment.

According to him, there no unclearness in discussions with Turkey and the parties’ positions are reasonable with regard to the volume and price of natural gas Azerbaijan will pump to Turkey.

He said the two countries are likely to set a suitable price by this yearend, and the new price might take effect from April 2009.

The Shah Deniz project is a gas and condensate development in the Azerbaijan sector of the Caspian Sea with planned gas exports to foreign countries.
Shah Deniz participating interests are: BP (operator – 25.5%), StatoilHydro (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).
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