Baku And Ankara Ink Energy Deals In Major Step Forward For Shah Deniz And Nabucco

After extensive negotiations Turkey and Azerbaijan on June 7 signed a series of energy agreements that pave the way for exports from Azerbaijan's long-delayed Shah Deniz II gas project to Turkey and beyond to Europe. The agreements settled three areas of dispute that had previously impeded progress: they established gas volumes to be exported from Shah Deniz II to Turkey, settled a price dispute between the two countries, and set the terms for Azerbaijani gas to be transported through Turkey to Europe. The agreements, though understood to be part of memoranda of understanding (MoU) rather than commercial agreements, mark a

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