Azerbaijan to receive over $300 million for difference in cost of gas from Shah Deniz field by late March

Turkey will pay $1.351 billion - all the difference in cost of the Azerbaijani gas supplied to this country from the first stage of development of the Shah Deniz gas field by late March, the head of the State Oil Fund of Azerbaijan Shahmar Movsumov said today.

According to him, at present, Turkey has already paid more than $ 700 million, 138 million of which has been transferred to Azerbaijan, while the rest of the amount - the other shareholders of the project. In total Azerbaijan will receive more than $ 300 million - another 165 million will be transferred by late March.

Earlier, Botas and SOCAR agreed on the price of Azerbaijani gas in the first and second stages of the Shah Deniz project and its transit through Turkish territory.

Until reaching the agreement, Azerbaijani gas is supplied to Turkey at $120 per 1,000 cubic meters. However, the cost of gas for consumers on Turkey's domestic market is more than $300 per 1,000 cubic meters (data from the official website of the Turkish company Botas).

Under the current contract, Turkey must receive 6.6 billion cubic meters of gas from Shah Deniz in the first stage of the field's development. Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.


/Trend/