Economic expert: There is a subject to discuss a new price on Azerbaijani gas for Turkey

- What can you say about the alleged intention of Azerbaijan to raise gas prices for Turkey?

- First of all, Azerbaijan has a right to change the gas price for Turkey, as it is fixed in the gas sale and purchase contract, concluded with Turkey. And this information is not new. Prices were to be changed since April 15 of 2008 that is within a year following the start of supplies of Azerbaijani gas to the Turkish market. Talks about changes in prices are held for long. It is not ruled out that the next round of talks will be held in Baku this week.

- What prevents Azerbaijan from raising gas prices for Turkey considering the fact that Turkey is able to purchase gas from Russia for a higher price?

- We can not just raise prices unilaterally all of sudden. It is not done this way. There is an agreement, there is a contract and there is a price formula. I wouldn't draw parallels between prices on Azerbaijani and Russian gas, as these are completely different projects, they have different formulas, capacities and investments.

- Thus, we have discussed mutual relations of Azerbaijan and Turkey in the gas sphere. And how do you assess prospects of Azerbaijani-Russian gas cooperation?

- Diversification, numerous sources of export and import is the most correct way of resources management. Azerbaijan today has created a diversification when the country can sell gas to several countries at the same time and there is an infrastructure for this. Export of Azerbaijani gas to Russia is a good sample of strengthening of the model of export sources diversification.

- And the last question is how great is Azerbaijan's potential as a gas-rich state?

- The potential is really wide. Today the volume of proven minimal gas reserves makes 2 trl cubic meters. Gas extraction will make 30 bln cubic meters at the cost of perspective structures in the Caspian Azeri Sector by 2015.

Along with the large gas condensate field Shah Deniz, the overall extractive gas reserves, for example at the structures Umid, Babek, Absheron, Zafar-Mashal and Nakhchivan are estimated at almost 1.5 trl cubic meters. There are also large deep free gas reserves at the Azeri-Chyrag-Guneshli fields. They are estimated at about 250-300 bln cubic meters and talks to conclude a contract on this gas extraction are currently underway.

/Day.Az/