Turkey and Azerbaijan agree on gas transit terms

On Friday Turkey and Azerbaijan finally reached a conclusive agreement on the purchase and transit of natural gas to be produced from the second phase of Azerbaijan's Shah Deniz gas field, 1news.az reports.

The Turkish Natural Reserves Minister, Taner Yildyz, told journalists that the formal signing ceremony will be held later. Experts from the Energy Ministry and BOTAS are still working on the final version of the agreement’s text. According to the Minister, this long-term treaty opens the way to realization of several major international projects such as Nabucco and TAPI.

The new agreement stipulates that Turkey is due to purchase 6 billion cubic meters from Shah Deniz-2 per year and allow transit of 10 billion cubic meters.

The Azerbaijani Energy Minister, Natik Aliyev, said that there are no further discords between the parties, it is just that such a document takes time to prepare. Mr Natik pointed out that this accord is vitally important for the realization of Shah Deniz-2.