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Azerbaijan Sees 10 Billion Cubic Meters of Gas Shipped to Europe

Azerbaijan will be able to supply 10 billion cubic meters of natural gas a year to Europe when the Shah Deniz 2 offshore deposit comes on stream in 2017, said Elshad Nasirov, vice president of State Oil Co. of Azerbaijan.

The estimate compares with the capacity of 30 billion cubic meters projected by an OMV AG-led group for its proposed Nabucco pipeline to deliver gas from the Caspian Sea to Europe. Nabucco is vying with the proposed Trans-Adriatic Pipeline managed by Statoil ASA (STL) and EON AG, and a third link led by Edison SpA, Depa SA and Boru Hatlari Ile Petrol Tasima AS for the development.

A group developing the field led by BP Plc (BP/) is unlikely to agree on the sale and transit of Azeri natural gas with Turkey’s Boru Hatlari, known as Botas, this month, Nasirov said. In contrast, the state oil company, or Socar, said last month that companies seeking to build pipelines from the gas field must submit their project requirements to the BP group by Oct. 1.

“It is crucial for Turkey and Azerbaijan to sign an agreement on gas sales and transit tariffs before a decision on pipeline options,” said Jennifer Coolidge, executive director at research company CMX Caspian and Gulf Consultants Ltd.

BP and partners including Statoil, OAO Lukoil and Total SA (FP) are due to make a final decision on tapping the second phase of the field in October. David Nicholas, a spokesman for BP, wasn’t immediately able to comment when contacted by Bloomberg News.

Source: Bloomberg

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