Industry and Energy

Home page

Industry and Energy

ShahDeniz consortium to determine route of gas transportation to Europe by year-end

21 September 2011 11:29 (UTC +04:00)

To him, pipeline projects must submit their proposals on tariffs and conditions of transportation until October 1: â€œWe will make a choice before the end of the yearâ€.

According to his words, currently, several options for transportation, including Nabucco, ITGI, TAP are being considered: â€œRoute selection is largely depends on agreements related to the transit of gas with Botas. Talks have already been conducted with 14 potential buyers from Europe. In addition, the consortium held talks with buyers from Bulgaria, Romania, Hungary and Croatiaâ€.

Richard Taus also noted that gas production in the second stage of development of ShahDeniz will begin in 2017: â€œAfter two years, production will peak at 16 billion cubic meters. Of these, 6 billion cubic meters will go to the Turkish market, and the rest - to Europe. Peak of gas production will continue until 2027, and then begin to decline. In general, the peak from ShahDeniz field will produce up to 24 billion cubic metersâ€.

Richard Taus added that the implementation of the second stage of development of ShahDeniz requires $ 20 billion.