Azerbaijan interested in energy security in Europe: SOCAR president

Azerbaijan is interested in ensuring the energy security of Europe and is considering all the projects of Azerbaijani gas exports to Europe, the State Oil Company of the Azerbaijani Republic (SOCAR) President Rovnag Abdullayev said at a meeting with Secretary of State for Economic Affairs of Switzerland Jean Daniel Gerber.

"There were made a lot of proposals for purchase of Azerbaijani gas from the Shah Deniz field. We are considering the best and economically beneficial proposal," Abdullayev said.

Europe is greatly interested in Azerbaijani gas, Gerber said.

The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants include: BP (25.5 percent); Statoil (25.5 percent); SOCAR (10 percent); LukAgip (10 percent); NICO (10 percent); Total (10 percent); and TPAO (9 percent).

Gas production at Shah Deniz began in December 2006. Gas is presently
transported to Georgia and Turkey via the South Caucasus Pipeline. The daily average gas production from the field is 22-24 million cubic metre.

The first development phase envisages producing an annual 9 billion cubic meters of gas. The production volume in the second phase scheduled for 2012 will increase to 20 billion cubic meters

The daily gas production from Shah Deniz field is 21-22 million cubic metre.

/Trend Capital/