Azernews.Az

By Nigar Abbasova

Work on the development of the second stage of Azerbaijan’s Shah Deniz gas and condensate field, one of the largest fields in the world, nears its completion.

BP Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell said that the work has already been completed by almost 87 percent.

“BP-operated Shah Deniz project, as well as construction of new platforms and a network of underwater gas pipelines, expansion of the Sangachal terminal and the South Caucasus Pipeline are well underway. Work has completed by almost 87 percent,” he said.

Birrell, talking to reporters in Baku on February 6, said that the first volume of gas produced within the project will be exported to Turkey next year and Europe by 2020.

Being one of the main components of the large-scale Southern Gas Corridor project, Shah Deniz 2 is expected to add a further 16 bcm per year of gas production to the approximately 9 bcm per year produced by Shah Deniz Stage 1.

Reserves of the field are estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate. The gas is projected to be exported to Georgia, Turkey and European markets through expansion of the South Caucasus Pipeline and the construction of the Trans Anatolian Natural Gas Pipeline and the Trans Adriatic Pipeline.

The total cost of the Shah Deniz 2 project, being developed by a consortium of companies, is expected to hit $25 billion.

The project will allow to increase the European energy security by bringing Caspian gas resources to markets in Europe for the very first time through the Southern Gas Corridor.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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