Iran upbeat on buying Azeri gas
Iran has offered hefty investment in tapping
Azerbaijan`s major Shahdaniz gas field in the Caspian Sea to
acquire a 10% share in Phase 2 of the project, during which
production from the field will peak.
Hossein Noqrekar Shirazi, Iranian Deputy Oil Minister for International Affairs, has said his country intends to invest to the tune of $1.7 billion to finance its share.
He noted that his country was a strategic partner of the project and would continue to be represented in it with a 10% share, referring to the Phase 1 stake held by Iranian NIKO company since 1997.
Shirazi said Tehran plans to import the volume of gas earmarked for it but did not rule out that Iran would buy more gas from Azerbaijan if the sides reach agreement during the talks.
The second stage of the Shahdaniz project is due to begin in 2013. Annual output is predicted to reach 14 billion cubic meters of gas, of which 11bn cu. m. are earmarked for exports. Besides Iran, Greece, Turkey and Russia have proposed to buy Shahdaniz gas for prices in world markets.
Shahdaniz launched production in 2006. The field holds estimated reserves of 1.2 trillion cubic meters of gas.
Hossein Noqrekar Shirazi, Iranian Deputy Oil Minister for International Affairs, has said his country intends to invest to the tune of $1.7 billion to finance its share.
He noted that his country was a strategic partner of the project and would continue to be represented in it with a 10% share, referring to the Phase 1 stake held by Iranian NIKO company since 1997.
Shirazi said Tehran plans to import the volume of gas earmarked for it but did not rule out that Iran would buy more gas from Azerbaijan if the sides reach agreement during the talks.
The second stage of the Shahdaniz project is due to begin in 2013. Annual output is predicted to reach 14 billion cubic meters of gas, of which 11bn cu. m. are earmarked for exports. Besides Iran, Greece, Turkey and Russia have proposed to buy Shahdaniz gas for prices in world markets.
Shahdaniz launched production in 2006. The field holds estimated reserves of 1.2 trillion cubic meters of gas.
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