Azernews.Az

Georgian Prime Minister Irakli Garibashvili arrived in Azerbaijan on December 16.

Garibashvili will take part in the ceremony of signing of the document on the second stage of Azerbaijani Shah Deniz field's development on December 17.

During the visit Garibashvili will meet with Azerbaijani officials.

The contract on development of the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - nine percent and SOCAR - 10 percent.

Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.

The cost of the second phase of development of the Shah Deniz gas condensate field is estimated at $25 billion.

During the second phase of development it is planned to produce 16 billion cubic meters of gas, six billion of which will be transported to Turkey, and 10 billion cubic meters will be delivered to Europe.

In late June the consortium for Azerbaijani Shah Deniz field's development chose the Trans Adriatic Pipeline (TAP) as a route to transport its gas to European markets. The gas which will be produced in the second stage of the Shah Deniz field development is considered as the main source for TAP.