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Friday, November 24, 2006

Azerbaijan is ready to substitute gas imports from Russia by supplies from Shakh-Deniz

24 November 2006 - The New Anatolian - SOCAR is ready to use inability of the BOTAS, the state oil&natural gas pipelines and natural gas imports company, to receive gas from Shakh-Deniz gas deposit by the fixed date. According to SOCAR President Rovnag Abdullayev, Azerbaijan is ready to increase gas purchasing from Shakh-Deniz gas deposit by the whole amount of the Turkish company's planned share (1.5bln cubic meters). "Receiving gas from Shakh-Deniz will strengthen the country's positions at talks on gas supply with Russia's Gazprom. If inadequate gas price will be requested, gas import from Russia may be reduced up to its complete ceasing," Abdullayev said. Azerbaijan and Russia have reached no consensus yet on the price of 1,000 cubic meters of gas. Gas will be supplied at the price of $110 in 2006; however, Russia has already informed Georgia on the price of $230 for 2007. Although, there is no information about price for Azerbaijan, the country is ready to reduce its imports form Russia." According to Fineko Information Agency, energy balance without taking into consideration import from Russia is calculated at Azeri government. Shakh-Deniz will not be able to cover the loss in imports (4.5bln of cubic meters); however, the country has reserves of fuel saving particularly in increasing collection and decreasing technical losses," it was said at the government. According to evaluations of Deloitte consulting company, technical losses of gas amount to 40% only in Baku. Azerbaijani annual needs for gas are estimated as 12-15bln of cubic meters. The country will be able to receive 400-800mln cubic meters in 2006-2007 from Shakh-Deniz.
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