Shah Deniz signs contracts with buyers of Azerbaijani gas in Europe

Azerbaijani gas and condensate field development consortium Shah Deniz has signed contracts on Thursday with the buyers of Azerbaijani gas in Europe.

The agreements signed in Baku are long term gas contracts scheduled for 25 years. The gas sales offers received from the buyers were considered alongside the gas transportation offers that have determined the commerciality of the Trans Adriatic Pipeline (TAP) and its respective markets. During the selection process gas sale offers were received for more than double the volume of available gas from more than 15 different gas buyers across Europe, Trend reports.

The gas sales agreements are subject to the final investment decision which is planned for later this year. Following the final investment decision it is expected that the first gas will be delivered to Turkey in 2018, and to Europe in 2019.

The contracts on the purchase of Azerbaijani gas from Shah Deniz-2 project were signed with Shell, Bulgar Gas, Gas Natural Fenosa, EON, Gaz de France, Hera, Enel, Axpo, DEPA.