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Baku, Ankara reach deal on natural gas

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  • Baku, Ankara reach deal on natural gas

    Baku, Ankara reach deal on natural gas

    Published: May 3, 2011



    ISTANBUL, Turkey, May 3 (UPI) -- Turkey and Azerbaijan signed an
    agreement on the price and quantity of natural gas from the giant
    offshore Shah Deniz field, a minister said.

    Turkish Energy Minister Taner Yildiz signed a gas deal with his Azeri
    counterpart Natiq Aliyev on the sidelines of a regional conference in
    Istanbul.

    Yildiz was quoted by Turkish daily newspaper Today's Zaman as saying
    both sides "reached an agreement over the price and quantity of gas to
    be exported from the Shah Deniz II project, which will go online in
    2017, to Turkey."

    Turkey gets about 210 billion cubic feet of natural gas per year from
    Azerbaijan and some of that volume heads to Greek markets. Yildiz didn't
    give specifics on the deal other than to say some of it would be
    exported to European countries.

    Both countries are pivotal to European plans to build the Nabucco gas
    pipeline. That project is meant to break the Russian grip on the
    European energy sector, though the pipeline is slow to reach formal
    agreements with potential suppliers.


    © 2011 United Press International, Inc.




    From: A. Papazian
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