Bank Of Baku

Azerbaijan may launch Phase II of Shah-Deniz in 2014

Azerbaijan may launch Phase II of Shah-Deniz in 2014
# 30 March 2009 10:47 (UTC +04:00)
Baku - APA-Economics. The second phase of BPs giant Shah-Deniz gasfield is now expected to begin operations by 2014, rather than the officially held 2011-2012 start-up date, BNE quoted newswire sources as saying.
The field contains an expected 42tcf (1.2tcm), and currently produces around 15m cubic metres per day. The second phase is expected to be used as a key source for gas to Europe, a key resources base for the mooted Nabucco pipeline.
No direct share impact is expected for any companies under coverage.
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THE OPERATION IS BEING PERFORMED