Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Baku, Ankara reach deal on natural gas

|
|
 
  
Published: May 3, 2011 at 7:39 AM
Advertisement

ISTANBUL, Turkey, May 3 (UPI) -- Turkey and Azerbaijan signed an agreement on the price and quantity of natural gas from the giant offshore Shah Deniz field, a minister said.

Turkish Energy Minister Taner Yildiz signed a gas deal with his Azeri counterpart Natiq Aliyev on the sidelines of a regional conference in Istanbul.

Yildiz was quoted by Turkish daily newspaper Today's Zaman as saying both sides "reached an agreement over the price and quantity of gas to be exported from the Shah Deniz II project, which will go online in 2017, to Turkey."

Turkey gets about 210 billion cubic feet of natural gas per year from Azerbaijan and some of that volume heads to Greek markets. Yildiz didn't give specifics on the deal other than to say some of it would be exported to European countries.

Both countries are pivotal to European plans to build the Nabucco gas pipeline. That project is meant to break the Russian grip on the European energy sector, though the pipeline is slow to reach formal agreements with potential suppliers.

Topics: Natiq Aliyev, Taner Yildiz
Recommended Stories
© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Protesters, police clash at NATO summit Notable deaths of 2012 2012 Billboard Music Awards
The 137th Preakness Stakes Annual Solar eclipse occurs in U.S. Chen Guangcheng arrives in the U.S.
Additional Energy Resources Stories
1 of 29
Members of the Army's Old Guard place flags at Arlington National Ceremtery
View Caption
U.S. flags are seen in the rucksack of a soldier with the Army's 3d U.S. Infantry Regiment, The Old Guard, as he places flags at gravesites in Arlington National Cemetery as part of the Flags-In Memorial Day ceremony on May 24, 2012 in Arlington, Virginia. American flags were placed at each of the more than 220,000 grave markers in honor of those who served and Memorial Day. UPI/Kevin Dietshc
fark
It apparently requires the efforts of four TSA and two police officers to identify... an iPhone...
Dutch twin prostitutes, 69, serve as a harsh lesson on why you finish reading a headline before...
Researchers use invisibility cloaks to trap, taste the rainbow
Photoshop theme: If humans evolved from cats
It's time for the Fark News Quiz. The only quiz in the world that's easier to pass if you have a...
The incredibly strange but true story of invisible meth labs, dogs shot dead and John McAfee, founder...