Supply volumes under Azerbaijan-Türkiye updated contract for Shah Deniz Stage I revealed

According to the extended contract for the supply of Azerbaijani gas from the Shah Deniz Stage I field, signed June 4 between Azerbaijan and Türkiye, the volume of supplies to Türkiye until 2030 will amount to 3.5 billion cubic meters per year, advisor to vice president of SOCAR Vitaly Baylarbayov told Report.

Supplies of natural gas from the first stage of the Shah Deniz field to Türkiye began in 2007 via the Baku-Tbilisi-Erzurum (BTE) gas pipeline.

In the third quarter of 2021, Azerbaijan and Türkiye entered into a new agreement on the purchase and sale of gas from Stage I in a total volume of 11 billion cubic meters.

The agreement provided for the supply of approximately 3.7 billion cubic meters of gas per year from Shah Deniz Stage I until the end of 2024 (fourth quarter of 2021-2024).

The agreement on exploration, development and production sharing from the promising Shah Deniz field was signed on June 4, 1996, ratified on October 17, 1996. In 2013, the agreement on the development of the Shah Deniz field was extended from 2036 to 2046.

The companies participating in the project are BP (operator - 29.99%), Lukoil (19.99%), TPAO (19%), NIKO (10%), SGC Upstream (21.02%).