Bank Of Baku

Decision on Shah Deniz-II may delay till 2017

Decision on Shah Deniz-II may delay till 2017
# 19 April 2010 15:22 (UTC +04:00)
There is no agreement between Azerbaijan and Turkey. Presently, Azerbaijan and Turkey hold talks about the issue of gas volumes, transit and tariff issues.

Absence of agreement between Azerbaijan and Turkey prevents Nabucco to help reduce Europe’s energy dependence on Russia, which currently supplies about a quarter of the gas consumed by Western Europe.

EU did not adopt the investment decision about the construction of Nabucco. According to European Commissioner for Energy, Gunter Ottinger, the Nabucco link will be launched in 2018.

The giant Shah Deniz field has total estimated reserves of around 1.2 trillion cubic meters.
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