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- Turkeys Natural Gas Import Deals -Iran
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- Turkeys Natural Gas Import Deals -Iran
Turkeys Natural Gas Import Deals -Iran
- By Oil and Gas Author
- Published 09/1/2006
- Crude Oil Petroleum , Natural Gas Petroleum , Exploration and Discoveries , Liquefied Natural Gas LNG , Petroleum Pipeline
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Oil and Gas Author
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View all articles by Oil and Gas AuthorAfter months of negotiation and delay, Azerbaijan and Turkey signed a long-term Natural Gas purchase and supply contract on March 12, 2001 (granted final approval on the Turkish side in February 2003). Starting in 2006, two years later than the original target date, Azerbaijan is to deliver 70 Bcf of natural gas to Turkey, rising to 177 Bcf in 2007 and around 223 Bcf per year from 2009 through 2020. Natural gas for the deal is to come mainly from Azerbaijans $3.2 billion, BP-led Shah Deniz Phase I field development project (given the financial green light in February 2003). To transmit the gas, the $900 million South Caucasus (Baku-Tbilisi-Erzurum) Pipeline would stretch some 630 miles, including 290 miles in Azerbaijan and approximately 170 miles in both Georgia and Turkey. Like Turkeys other possible gas deals, the pipeline from Shah Deniz has been called into question by lack of gas demand in Turkey, and now may not be built at all.
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Turkeys Natural Gas Import Deals -Iran
