SOCAR: Gas contracts on Shah Deniz 2 to be signed in 2011

Partners in developing Azerbaijan's major gas condensate field Shah Deniz will sign contracts for gas sale from the second phase of the project development in mid-2011, Rovnag Abdullayev, head of the State Oil Company of Azerbaijan (SOCAR) said.

Aas part of the second stage of the field's development, contracts are being prepared with the Turkish side on gas transit and on sale of 6 billion cubic meters of fuel a year, Abdullayev said.

"Furthermore, discussions are underway with European buyers to sell 10 billion cubic meters of gas a year," Abdullayev said.


/Trend/