Turkiye's BOTAS agree deal for gas delivery to SOCAR Turkey

Turkiye
# 11 January 2022 12:02 (UTC +04:00)

​​​​​​Turkiye's Petroleum Pipeline Corporation (BOTAS) will deliver up to 1.7 billion cubic meters (bcm) of natural gas that will run until Dec. 31, 2024 to SOCAR Turkey Petrokimya AS (STPAS), according to a contract that will be concluded between parties, APA reports citing Anadolu Agency.

Under the memorandum of understanding signed between the Ministry of Energy and Natural Resources of the Republic of Turkey and the Ministry of Energy of the Republic of Azerbaijan on Dec. 22 and published in Turkiye’s Official Gazette, BOTAS will deliver natural gas to STPAS to cover the needs of the group companies of SOCAR Turkey Enerji AS.

The price of the gas volumes that BOTAS will include the import price of the existing gas sales and purchase contract (SPA) already in place. Additionally, the import price will cover the transportation tariff and other transportation costs incurred by BOTAS in Turkiye, and all applicable taxes.

BOTAS and STPAS will conclude annual contract covering the delivery quantities, taking into consideration the take or pay obligations of BOTAS.

The parties shall use their best endeavors to utilize the maximum technical available capacity of existing natural gas pipelines, including "Baku-Tbilisi-Arzurum" and "Trans Anatolian Natural Gas Pipeline, by transmitting additional natural gas volumes that will be produced from upstream projects in Azerbaijan or transported through Azerbaijan. In this context, the Turkish Party shall provide all necessary support for the trade of such natural gas volumes within the natural gas market of Turkey.

The memorandum of understanding, which is subject to amendments and updates, will take effect on the completion of each country’s respective internal legal procedures.

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