A new contract has been signed between Azerbaijan and Türkiye for the long-term supply of natural gas to be produced from the Absheron gas-condensate field in the Azerbaijani sector of the Caspian Sea. The total volume of the contract is 33 billion cubic meters.
This was announced by Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar in an interview with Kanal 7 TV channel.
Under the agreement, starting from 2029, 2.25 billion cubic meters of gas will be delivered to Türkiye annually, with supplies continuing for 15 years and extending into the 2040s.
“We will deliver this gas to our country via the Baku-Tbilisi-Erzurum pipeline using our existing infrastructure,” the minister stated.
Alparslan Bayraktar noted that long-term contracts and the strategy of diversifying supply sources strengthen Türkiye's energy security and enable the purchase of gas at competitive prices.
According to data from Türkiye's Energy Market Regulatory Authority (EPDK), in January-October 2024, Azerbaijan exported 9 billion 798.4 million cubic meters of gas to Türkiye, which is 3.5% more than in the same period of the previous year. For the full year, total exports reached 11 billion 478.4 million cubic meters, showing an 11.9% increase compared to 2023.
Currently, Azerbaijan is Türkiye's second-largest gas supplier after Russia. The country is mainly supplied with gas produced under Stage-1 and Stage-2 of the Shah Deniz field.
It should be recalled that the Absheron field was discovered by Azerbaijani geologists in the 1960s, with estimated gas reserves of 350 billion cubic meters. In 2009, a contract was signed between SOCAR and Total. On August 4, 2023, an agreement was reached with ADNOC for the acquisition of a 30% stake. As a result, SOCAR and TotalEnergies each hold a 35% share.
https://report.az/energetika/bayraktar-azerbaycanla-yeni-tebii-qaz-muqavilesi-imzalanib