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23.12.2013 11:11

SOCAR: Shah Deniz opens way to Europe for Azerbaijani gas

Shah Deniz project will open way to Europe for Azerbaijani gas, the head of SOCAR (the State Oil Company of Azerbaijan), Rovnag Abdullayev said at the signing ceremony of the final investment decision on the project of the second phase of the Shah Deniz gas condensate field development in Baku today.
"Today is a historic day, which is a part of the oil strategy of national leader Heydar Aliyev," SOCAR head said.
The agreement was signed by SOCAR President Rovnag Abdullayev and the regional president of BP in Azerbaijan, Georgia and Turkey Gordon Birrell.
The head of SOCAR thanked President of Azerbaijan Ilham Aliyev on behalf of all oil workers of the country.
Abdullayev said that during the project implementation the most modern technology will be used, and the total length of pipelines supplying Azerbaijani gas to Europe will be about 3,500 kilometres.
"This corridor will serve several generations of Europeans. In addition, we are an operator and a major investor in the TANAP project (Trans-Anatolian gas pipeline), as well as a major investor in the TAP (Trans Adriatic Pipeline)," SOCAR head said.
Shah Deniz is the first link in the chain, and Azerbaijan's gas reserves are estimated at about 2.5 trillion cubic meters, Abdullayev added.
"As a result of the project implementation on development of the second phase of the Shah Deniz, over 10,000 jobs will be created, new infrastructure facilities will be constructed including unique vessels that will be built at the shipyard," Abdullayev noted.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.
The cost of the second phase of development of Shah Deniz gas condensate field is estimated at $25 billion.
Within the second phase of development it is planned to produce some 16 billion cubic meters of gas (within the first phase - 9 billion), six billion of which will be transported to Turkey and ten billion to Europe.
The consortium of Azerbaijani Shah Deniz gas condensate field development announced its choice of the TAP project in late June, as a gas transportation route to the European markets.
The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with the possibility of expanding to 20 billion cubic meters per year.
Trans-Anatolian (TANAP) gas pipeline will be constructed for transportation of gas through Turkey's territory.

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