The Azerbaijan State News Agency

ECONOMY

AZERIGAZ TO BUILD TWO PIPELINES

Azerigaz SC, the state gas transport monopoly in Azerbaijan, plans to build two gas pipelines to join the Sangachal terminal with the country's gas transportation systems, at a cost of $50 million - $60 million, company General Director Alikhan Melikov told journalists.

The total length of the pipelines will be about 70 km and they will have a capacity of 12 billion cubic meters of gas per year. A feasibility study for this project is currently being prepared, he said.

"We may need investors for this, and we will also work to find these," he said.

He said that the pipelines would be built to prepare the Azerbaijani gas transport system to receive gas from the Shahdeniz field.

Shareholders in the project to develop the Shah Deniz field include BP - 25.5%, Statoil - 25.5%, LUKAgip - 10%, TotalFinaElf - 10%, SOCAR - 10%, NICO - 10% and TPAO - 9%. Recoverable reserves at Shahdeniz amount to 625 billion cubic meters of gas and 101 million tons of gas condensate.

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