Turkey, Azerbaijan sign key deal on gas transit

16:52, June 08, 2010      

Email | Print | Subscribe | Comments | Forum 

Turkey and Azerbaijan Monday signed a long-awaited deal on the transit of gas to Europe seen as crucial to plans to reduce the continent's dependence on Russian gas.

The memorandum of understanding sets the tariffs Turkey will charge for the transit of Azerbaijani gas to Europe and also fixes the price of gas that Azerbaijan sells to Turkey, Turkish Energy Minister Taner Yildiz told reporters in Istanbul after inking the document with his Azerbaijani counterpart Natiq Aliyev.

"Azeri gas is a very important source in meeting the needs of Turkey and European countries in the coming period in terms of energy security," Yildiz told reporters.

The agreement will open the way for securing supplies to the EU's flagship Nabucco gas pipeline project, he added.

The agreement fixes the price and amount of gas to come from the second phase of production at Azerbaijan's vast Shah Deniz fields, expected to begin in 2016 at the earliest, Yildiz said.

Yildiz refused to disclose the financial details of the deal.

The 3,300-kilometer Nabucco pipeline between Turkey and Austria, scheduled to be completed by 2014, is the key component of the EU's ambitious Southern Corridor plan to bypass Russia in bringing Caspian Sea gas through Turkey to Europe.

Energy-rich Azerbaijan is seen as a key potential supplier for Nabucco, which is competing with Russia's South Stream pipeline project to meet gas demands in Europe.

Source: Global Times


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion