SOCAR President Discusses Southern Corridor Process

In an interview with New Europe, Rovnag Abdullayev, President of the State Oil Company of Azerbaijan (SOCAR), said that Azerbaijan is actively building a policy to provide gas to EU countries and is participating in negotiations on several projects.

In discussing the multiple Southern Corridor projects, Abdullayev said that multilevel discussions were ongoing.

He explained that firstly, SOCAR is in negotiations with Botas, its Turkish partner on the conditions of transit of gas through Turkey for such projects as ITGI and Trans-Adriatic.

At the same time, Abdullayev said that discussions were being undertaken with the Nabucco pipeline project on the conditions of general transit, in the event that in Nabucco was chosen as a preferred buyer.

Concurrently, commercial negotiations gas prices are being held and should conclude by the beginning of October.

When the final tariffs are presented, SOCAR will be able to calculate the buyers’ proposed price formulas, deduct the transit costs, and to get a picture as to which pipeline will promise a concrete profit.

Abdullayev said that Azerbaijan was also proceeding with a feasibility study to examine the possibility of shipping liquefied natural gas.

Read the Full Article from New Europe HERE