BP-Azerbaijan committed to transporting gas to Europe
The BP-Azerbaijan Company remains committed to its plan to transport gas, which will be extracted during the second phase of the development of the Azerbaijan Shah Deniz gas condensate field, to Turkey in 2018 and to Europe in 2020, as said by the Regional President for BP-Azerbaijan, Georgia and Turkey, Gordon Birrell. According to him, the Shah Deniz-2 project is at two-thirds compliance at this time.
"The Shah Deniz gas condensate field remains stable and reliable. Last year nearly 10 billion cubic meters of gas and 2.3 million tons of condensate were produced from this field. Such quantities were produced from just six wells," Birrell said.
The gas production during the second phase of development of the condensate field will be exported to Turkey and European markets through the expansion of the South Caucasian gas pipeline and the construction of the Trans-Anatolian (TANAP) and Trans Adriatic (TAP) pipelines.
Within the scope of the Shah Deniz project, the annual gas yield will increase from nine billion cubic meters during the first phase and an additional 16 billion cubic meters during the second phase.
The Shah Deniz field reserves are estimated at 1.2 trillion cubic meters of gas. A contract for its development was signed in 1996.
The shared distribution among the parties of the Agreement is as follows: BP (operator) – 28.8%, AzSD – 10%, SGC Upstream – 6.7%, Petronas – 15.5%, LUKOIL – 10%, NICO – 10% and TPAO – 19%.