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Shah Deniz Phase 2 requires $20 billion in investment

27 April 2009 10:32 (UTC +04:00)

Baku. Nicat Mustafayev â€“ APA-Economics. $16-$20 billion is required for the development of Shah Deniz Phase 2 in the Azerbaijani sector of the Caspian Sea, said Azerbaijanâ€™s Minister of Industry and Energy.

Natig Aliyev said Azerbaijan is expected to be capable of exporting 30-45 billion cubic meters of gas in 2015-2030 while Turkmenistanâ€™s and Kazakhstanâ€™s export capacities will reach 145-180 billion cubic meters and 60-70 billion cubic meters respectively during this period.
Azerbaijan will ship 15-20 billion cubic meters to Europe given that Turkmenistanâ€™s and Kazakhstanâ€™s gas exports will be 20-30 billion cubic meters and 10-15 billion cubic meters respectively, he noted.
The Shah Deniz project is a gas and condensate development in the Azerbaijan sector of the Caspian Sea with planned gas exports to foreign countries.
Shah Deniz participating interests are: BP (operator â€“ 25.5%), StatoilHydro (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).