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29.03.2016 19:22

Azerbaijani gas price for Europe to be set on Turkish border IAEE

Azerbaijani gas price for European countries will be set on the Turkish border, Milliyet newspaper reported citing Gurkan Kumbaroglu, president of the International Association for Energy Economics (IAEE).

He said Turkey can play a key role in setting prices for gas to be transported to Europe from Azerbaijan, Russia and Iran.

It is planned to annually transport 10 billion cubic meters of Azerbaijani gas from the Caspian Sea region to Europe through Georgia and Azerbaijan within the Southern Gas Corridor project.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijans Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.

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