Azeri parliament ratified agreement on gas deliveries via Georgia to Turkey

Azeri parliament ratified international agreement on transit, transportation and selling natural gas, which deliveries will be carried out through the system of South Caucasian pipeline. The agreement foresees pumping Azeri gas from Shakh Deniz field on the Caspian Sea to Turkey through Baku-Tbilisi-Erzerum pipeline and selling part of the fuel to Georgia.

The implementation of this gas project is estimated at USD 2.7-2.9 billion; the beginning of transportation of gas through Baku-Tbilisi-Erzerum pipeline is scheduled for end of 2004 - beginning of 2005. Gas stock on Shakh Deniz field is estimated at 1 trillion cubic meters. According to the agreement signed with Turkey, 2 billion cubic meters (within next 20 years the volume will reach level of 6.6 billion cubic meters a year) will be annually exported through 694-km gas-main. The life term of the gas pipeline is 60 years.