Monday, June 7

New gas deals, new beginnings

On Monday, June 7th, Turkey and Azerbaijan, signed three new gas deals. According to new agreements, Turkey will be selling Azerbaijan's natural gas and transporting it to the European markets. The gas will be shipped from the second phase of Shah Deniz field. The deal came during an international summit held in Istanbul. 

Turkey believes that new gas deals are a positive development in fulfilling Nabucco project. Perhaps, we will eventually see an alternative to Russia's energy supplies. 

What is interesting however, is that while Azerbaijan signed these new deals, it is yet to join the multi- national Nabucco project and show its full commitment. 

According to Turkey's senior Energy Ministry official, Turkey will be paying a lower price to Azerbaijan when compared to the prices paid to Russia. Currently, Turkey receives 6 billion cubic meters of gas from Azerbaijan. 

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