Azernews.Az

(Newswires, August 10) – State Oil Company of Azerbaijan (SOCAR) has requested three major prospective EU pipeline groups to finalize their proposals on transit of Shah Deniz gas to Europe.

As a leader of the Shah Deniz Export Negotiating Team, SOCAR announced that a request for proposal (RFP) and a request for information (RFI) have been issued to IGI Poseidon, Trans-Adriatic Pipeline and Nabucco, SOCAR was quoted by media as saying.

The pipeline groups were requested to provide the consortium with information necessary to evaluate the projects and take a final decision on an export solution.

The deadline for submission of documents, including a proposal on export tariff, was set for October 1.

All three projects are part of the "Southern Gas Corridor" and one of the priority energy projects for the EU. The projects are intended to diversify routes and sources of energy supplies and to increase the EU energy security.

Peak production is forecasted at 9 billion cubic meters. According to the forecasts, gas production will be increased by 16 billion cubic meters annually from 2017 within the second stage of the field development, of which 10 billion will be exported to Europe.

The Shah Deniz field's gas reserves are estimated at 1.2 billion cubic meters, while condensate - 240 million tons.

The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.