Bank Of Baku

Lukoil increases stake in Shah Deniz

Lukoil increases stake in Shah Deniz
# 18 February 2022 13:35 (UTC +04:00)

PJSC LUKOIL announces completion of the transaction of buying a 9.99% interest in the Shah-Deniz gas project from PETRONAS, APA-Economics reports.

The transaction value is approximately $1.45 billion.

Following the completion of the deal, LUKOIL increased its share in the project from 10% to 19.99%. Other parties to the project are bp (29.99%, operator), TPAO (19%), SOCAR (14.35%), NICO (10%) and SGC (6.67%).​

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