SOCAR believes it can receive profit of $200 billion for 400 billion cub.m. of gas
Aggregate incomes from gas sale from the Shah-Deniz-2 field will total almost $200 billion, SOCAR President Rovnag Abdullayev said today at the ceremony of the contract signing.
This figure includes both incomes of Azerbaijan, SOCAR and foreign companies- partners of the Shah-Deniz project received during the past 25 years.
During 25 years it is planned to export 400 billion cub.m. of gas from the Shah-Deniz-2, of which 250 billion cub.m. will be exported to Europe and 150 billion cub.m. to Turkey.
Abdullayev said that the talks on Azerbaijani gas deliveries to Europe lasted almost five years and finally the agreement has been achieved, which will lay the basis for the new era of the oil and gas industry of Azerbaijan.
Abdullayev said this is applied only to the Shah-Deniz Phase 2, but Azerbaijan has gas potential, including gas lying deep on the Azeri-Chirag-Guneshli fields (ACG), Absheron field and the expected resources on the perspective fields Shafag-Asiman, which will allow going beyond Italian, Bulgarian and Greek markets.
Considering SOCAR's forecasts, one can draw a conclusion that average gas export price within the Shah-Deniz-2 is forecasted at $500 per 1000 cub.m. At present price of Azerbaijani gas in Turkey is approximately 26-30% less, than in the Balkan countries.-0-
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