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27.09.2013 13:50

Germanys E.ON to buy 40 bcm of Azerbaijani gas under 25 year-contract

Germany's E.ON will purchase 40 billion cubic metres (bcm) of Azerbaijani gas under the 25 year-contract, signed with the consortium of Shah Deniz field development last week, the company's statement said. Annually the company will purchase 1.6 bcm of Azerbaijani gas.

On September 19, 2013, E.ON along with other eight companies signed a long-term contract for the supply of gas from the giant Shah Deniz field in the Caspian Sea to Europe. Supplies are to start earliest in 2019.

According to French GDF SUEZ's report, the company contracted volumes of 2.6 bcm per year from the second stage of Shah Deniz field development for a period of 25 years.

Spanish Gas Natural Fenosa will acquire 1 bcm of "Shah Deniz-2" project's gas per year for 25 years, according to the company's report.

Earlier it was reported that Italian Hera Tranding annually will get 300 million cubic metres of Azerbaijani gas under the signed contract.

Other five companies - Shell, Bulgargas, Enel, Axpo and DEPA have no yet disclosed gas volumes to be purchased by them under the contracts (each for 25 years) signed on September 19 in Baku.

Gas to be produced within the second stage of Azerbaijani Shah Deniz field development will be transported to the European markets by the Trans Adriatic Pipeline (TAP).

The TAP project is designed to transport gas from Caspian region through Greece, Albania and Adriatic Sea to the South of Italy, and then to the Western Europe.

The initial capacity of TAP will amount to 10 billion cubic metres per annum with the possibility of expanding to 20 billion cubic metres per annum.

Currently TAP's shareholders include BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (16 percent), Total (10 percent), E.ON (9 percent) and Axpo (5 percent).

The construction of TAP is planned to start in 2015.

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