Azerbaijan and Turkey have failed to come to an agreement on the legal
aspect of the gas sales contract of Shah-Deniz-2, Vagif Aliyev,
manager of foreign investments of SOCAR (State Oil Company of the
Azerbaijani Republic), said in Baku today, Trend reports.
The sides reached agreements on transit, quantities of gas and its
transport means, but there are still disagreements.
Aliyev said that Shah-Deniz-2 may receive $25-30 millions of
investments. British and Swiss norms may become the legal principles
of the contract.
BOTAS signed a contract on development of Shah-Deniz last year, it was
regulated by British norms.
Shah-Deniz has 1.2 trillions of gas reserves. A contract on its
development was signed on June 4, 1996. It's shareholders are BP
(operator) - 25.5%, Statoil - 25.5%, NICO - 10%, Total - 10%, Lukoil -
10%, TPAO - 9% and SOCAR - 10%.
Turkey will purchase 6.6 billion cubic meters of gas from Shah-Deniz
annually. The second stage of development of the field will provide
Turkey with 6 billion cubic meters.
