By Nigar Abbasova
The execution of Shah Deniz Stage 2 project, one of the largest energy projects in the world, nears its completion.
AGT (Azerbaijan-Georgia-Turkey) Vice President and President of BP Turkey Mick Stump said that the work within the second phase of development of Azerbaijan’s biggest gas and condensate field has been completed by more than 80 percent, mentioning that BP and its partners intend to complete the project in time.
Shah Deniz Stage 2, or Full Field Development (FFD) is a giant project that will add a further 16 billion cubic meters per year (bcma) of gas production to the approximately 9 bcma produced by Shah Deniz Stage 1.
Stump went on saying that the work to expand the South Caucasus Pipeline has been completed by 50 percent, adding that the priority is to complete the implementation of the SGC project on time and within the planned budget, Trend reported.
“We intend to deliver gas from the field to Turkey in 2018 and to Europe – in 2020,” said the vice president.
Stump believes that the protection of pipelines is very important to ensure energy security and the supply continuity.
He said that the safety of pipelines is one of the priorities, noting that BP has always invested additional funds to protect its lines. “In this area, we are working together with the Turkish security forces,” he added.
The Shah Deniz field, discovered in 1999 is estimated to possess reserves standing at 1.2 tcm. The field is located in the Azerbaijan sector of the Caspian Sea, approximately 100km south of Baku and 90 km east-south east of Sangachal in water depths ranging from 50m to 500m.
The shareholders in the contract are BP (operator with a stake of 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
Shah Deniz Stage 2 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.
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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