Shah Deniz gas sales contract partially transferred from ENGIE to Shell
Sep 10, 2019
London - ENGIE, Shell, Azerbaijan Gas Supply Company (AGSC) and SOCAR have agreed on a partial transfer of ENGIE’s Shah Deniz gas supply contract to Shell Energy Europe Limited.
ENGIE and Shell Energy Europe both previously secured gas supply from Azerbaijan’s Shah Deniz gas project under contracts signed in 2013. Under this latest agreement, Shell Energy Europe is significantly increasing the availability of gas for its customers by acquiring part of ENGIE’s 25-year contract. ENGIE remains a significant buyer of Shah Deniz gas and conducts, as a mid-streamer, a dynamic optimization of its long-term position.
The transfer agreement, signed on September 5, covers supplies of Azerbaijani gas that will begin flowing into Italy upon completion of the Trans Adriatic Pipeline.
AGSC was established by Shah Deniz PSA partners and SOCAR as the marketing company to sell gas produced from the Shah Deniz field to markets in Azerbaijan, Georgia, Turkey and Europe through the Southern Gas Corridor.
ENGIE is a leading world group that provides low-carbon energy and services. To tackle the climate emergency facing us all, our aim is to become the world leader in the zero-carbon energy transition "as a service" for our clients – particular for companies and regional authorities. We use our expertise in our key business areas (renewables, gas, services) to provide competitive and bespoke solutions. With our 160,000 employees, our clients, our partners and our stakeholders, together we form a community of imaginative builders, striving every day to bring about a more harmonious form of progress.
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SOCAR is one of the major state-owned energy companies and manages a number of operations in Azerbaijan and abroad. The company fulfils many functions among which exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate. SOCAR also markets petroleum and petrochemical products within the country as well as across a number of international markets. The company’s vision is to become a vertically integrated international energy company with advanced experience in operation efficiency, social and environmental responsibility.
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