Azerbaijan and Türkiye have signed an agreement to extend Azerbaijani gas supplies from Stage 1 of the Shah Deniz field development.
The document was signed for the period of 2025-2028.
In 2021, Azerbaijan and Türkiye concluded a new gas purchase and sale agreement for Stage-1, which stipulated the supply of 11 billion cubic meters of natural gas via the Baku-Tbilisi-Erzurum pipeline provided for the annual supply of 3.7 billion cubic meters of gas from Shah Deniz Stage-1.
Deliveries under the agreement commenced on October 1, 2021.
The agreement on the exploration, development, and production sharing for the promising Shah Deniz field was initially signed in 1996. In 2013, the duration of the agreement was extended to 2046.
The project involves several major energy companies - BP, Lukoil, TPAO, NIKO and SGC Upstream.
