Baku News

15.09.2008 - [Neftegaz.RU] - Christos Folias, Greek Minister of Development, said that Athens and Baku cooperation can become a first step to Azerbaijan and EU partnership. In the near future a quadripartite contract about Caspian gas transportation between Azerbaijan, Turkey, Greece and Italy will be signed. Azerbaijan possesses a 1,2 bln. cubic metre gas deposit in Shakhdeniz. Gas will be transported to Greece through Turkey by South Caucasian pipe-line (Baku-Tbilisi-Erzurum) and then by Karajabei-Komotini pipeline (it connects Turkish and Greek gas transportation systems). By 2011, when the Poseidon gas pipeline starts to function, azebaijanian gaz will be transported to Italy. As for now the main gas exporter to Greece and Italy is Gazprom (its market share is 80 and 25 per cent respectively). However, Azerbaijan is confident that it will become a worthy rival to the Russians. But the experts say that Rome got used to Russian gas and probably won’t change its supplier, besides Azerbaijan is not ready yet for big gas output, that’s why it won’t be a great competitor for Gazprom. Though the Russian company loses its status of monopoly.