Iran Offers $1.7bln for 10% Stake in Azeri Gas Field
TEHRAN (FNA)- A senior Iranian oil ministry official said that Tehran has proposed Azerbaijan a $1.7 offer to buy a 10 percent stake in the second phase of the development of Shah Deniz field.
"The second phase of the Shah Deniz field will go on stream in 2013 and 2014, and currently a lot of countries have asked to buy gas from the Shah Deniz consortium, and Iran has been placed in the list of those who are interested," Iranian Deputy Oil Minister Hossein Noghrehkar Shirazi said.
Shirazi said his country submitted the $1.7 billion proposal with the effort of taking a 10 percent stake in the second phase development of the field.
The State Oil Co. of Azerbaijan Republic and Norwegian StatoilHydro are the primary developers of Shah Deniz. Azerbaijan's President Ilham Aliyev met last week with officials from the Norwegian company to push for acceleration of Phase 2 development.
The comments from the Iranian deputy oil minister came on the heels of negotiations held last week between officials from Naft Iran Intertrade Co. Ltd. and SOCAR.