TODAY.AZ / Business

Azerbaijan selects best option for gas delivery to Europe

08 December 2012 [13:13] - TODAY.AZ
One of the main factors examined while considering route options for Azerbaijani gas to Europe is ability to provide a guaranteed output of fuel at maximum minimized rates, a senior official of the State Oil Company of Azerbaijan (SOCAR) told Trend.

At present, the partners of "Shah Deniz" are considering two possible transportation projects for the shipment of Azerbaijani gas to Europe - Nabucco West and Trans Adriatic Pipeline (TAP). These projects are considered with the same criteria used to make a decision on a route by May of 2013.

According to a representative of the State Oil Company, the main criteria on which a route would be selected are possible European regional markets, possible gas prices, marketing, and the possibility of the expansion of capacity amongst other factors.

Commercial attractiveness is important to us, he added.

Supply of gas to Europe will also be possible, thanks to the important Trans Anatolian (TANAP) pipeline.

The TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country's western border to supply gas from Azerbaijan's Shah Deniz gas field to Europe through Turkey.

The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey, and the rest - to Europe.

Total reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.

The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, Lukoil - 10 per cent, TPAO - nine per cent and SOCAR-10 percent.

Reserves at the "Shah Deniz" field are estimated at 1.2 trillion cubic meters of gas.

The contract to develop the offshore "Shah Deniz" was signed on June 4th, 1996. Participating interests are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - 9 percent, SOCAR - 10 percent.


/Trend/
URL: http://www.today.az/news/business/116323.html

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