Bank Of Baku

Iran stands ready to invest in Shah Deniz Phase 2

Iran stands ready to invest in Shah Deniz Phase 2
# 28 April 2009 15:41 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Iran has offered an investment bid for developing a part of Phase 2 of Azerbaijan’s Shah Deniz gas and condensate development project in the Azerbaijan sector of the Caspian Sea with planned gas exports to foreign countries.

Jaleel Salari, corporate planning officer for National Iranian Oil Company (NIOC), told APA-Economics that the company stands ready to make investment in Shah Deniz Phase 2.

“Iran is willing to transport, or buy all the gas from Shah Deniz Phase 2,” he added.

Azerbaijan is pumping 3 million cubic meters of gas to Iran a day, of which 1 million cubic meters is onward sent to Nakhchivan.

Many countries, including Iran, Russia and Nabucco project parties have placed orders with Azerbaijan to buy natural gas from Shah Deniz Phase 2.
Shah Deniz Phase 1 gas is being pumped via Baku-Tbilisi-Erzurum gas pipeline from Azerbaijan to Turkey.

Shah Deniz participating interests are: UK’s BP (operator – 25.5%), Norway’s StatoilHydro (25.5%), Azerbaijan’s SOCAR (10%), Russia’s LUKOIL (10%), Iran’s NICO (10%), France’s Total (10%), and Turkey’s TPAO (9%).
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