 | Gas price may change |
The agreement on Azerbaijan’s Shah Daniz gas sales to Turkey, signed in Ankara on March 12, indicates not the selling price of gas, but the formula for determining a price. This was announced by the head of SOCAR’s foreign investment section Valeh Alasgarov in a news conference Thursday.
Explaining this by the specificity of international deals, Mr. Alasgarov added that the formula binds the gas price with those on diesel, low-sulfur heating oil and other hydrocarbons. He then censured the reports in Azeri media concerning an allegedly discount sale of Azeri gas to Turkey.
Under the agreement, Turkey has assumed the commitment to purchase 6.6 billion cubic meters of Azeri gas a year. If this quantity exceeds Turkey’s needs, the country will reserve the right to sell the surplus to a third country. One of the most important provisions of the agreement for Azerbaijan stipulates the sale of gas, produced in addition to the 6.6 billion cubic meters a year, to a third country.
With regard to the Baku-Tbilisi-Ceyhan main export pipeline, Mr. Alasgarov said basic engineering, which is scheduled to complete within 2 months, has proved the viability of the project. Thus, as where earlier 11 pumping stations were intended to be installed along the pipeline route, it has now been ascertained that even 8 will do, which will lead to a considerable economizing on investment. The group of MEP sponsors includes 8 companies, as talks are underway with a few more interested firms. If their participation is deemed rational to the project, they will be able to join the project sponsors, he said.*
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Issue: March, 22, 2001
POLITICS
Military solution not ruled out
ECONOMICSGas price may changeElectrical energy production upHalf of industrial goods produced by private sector
ACCIDENTFire accident down town Baku
CULTUREFrench actors to perform in Baku
MISCELLANEOUSDiscovered animal fossils in spotlight
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