Azerbaijan's gas price for Turkey named

The cost of Azerbaijani gas for Turkey is $350 per 1000 cubic meters, the Zaman newspaper quotes SOCAR Turkey Energy head, board member of the Petkim Petrochemical Complex, Kenan Yavuz as saying on Friday.

Yavuz said Azerbaijani gas is most profitable for Turkey on account of its cost, as gas from other sources costs Turkey much more.

This means the cost of Iranian gas for Turkey is $500 per 1000 cubic meters and Russian gas is exported to Turkey for $400 per 1000 cubic meters.

At present, Turkey receives gas from the Azerbaijani gas condensate field Shah Deniz through the South Caucasus gas pipeline (Baku-Tbilisi-Erzurum). According to the contract, Turkey should receive 6.6 billion cubic meters of gas during the first stage of the field development. It will then receive six more billion cubic meters of gas within the second stage.

Total reserves of '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, LukAgip - 10 per cent, TPAO - nine per cent and SOCAR-10 per cent.


/Trend/