Greece will pay the debt of about $300 million for Turkish gas by late January 2012, Turkish Minister for Energy and Natural Resources Taner Yildiz said, Trend reports.
Greece was unable to pay the debt due to the economic recession that had started in 2009.
Turkey imports gas from Azerbaijan as part of the first stage of Shah Deniz development. 750 million cubic meters are re-exported to Greece.
Shah Deniz holds about 1.2 trillion cubic meters of gas reserves. Turkey will receive 6.6 billion cubic meters, according to the contract on the first stage of development. Turkey will receive 6 more billion cubic meters as part of the second stage.
A contract on development of Shah Deniz was signed on June 4, 1996. Its shareholders are BP (operator) – 25.5%, Statoil – 25.5%, SOCAR – 10%, NICO – 10%, Total – 10%, Lukoil – 10%, TPAO – 9%.
