Azernews.Az

The cheapest and stable gas supplies to Turkey are made from Azerbaijan, SOCAR Turkey Energy head, board member of the Petkim petrochemical complex Kenan Yavuz said in an interview with the Turkish edition Para Dergisi.

"At present, one cubic meters of gas from Iran costs Turkey $500," he said. "Gas from Russia is cheaper than Iranian by 30 per cent, while Azerbaijani gas - by 40 per cent."

He said that after TANAP project (Transanatolia gas pipeline) is implemented, Turkey will receive 6 billion cubic meters of gas from Azerbaijan. "If necessary, import of gas from Azerbaijan to Turkey will be increased."

At present, Turkey receives gas from the Azerbaijani gas condensate field Shah Deniz through the South Caucasus gas pipeline. According to the contract, Turkey must receive 6.6 billion cubic meters of gas within the first stage of the field development. Turkey will receive 6 more billion cubic meters of gas from the second stage.

Previously, the cost of gas for Turkey was $120 per 1,000 cubic meters. But later the price on Azerbaijani gas increased after the cost of fuel rose on the world market.

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

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.