1 April 2003
Azerbaijan: Shah Deniz moves ahead
AFTER A FEW months' delay, the BP-led Shah Deniz group has sanctioned the $3.2bn, first-phase development of the project. The huge natural gas and condensates reserves at the field, in the south Caspian Sea offshore Azerbaijan, will be tapped as a source of gas for export to Turkey. Shah Deniz is the only big field found offshore Azerbaijan since foreign firms began exploring the Caspian in the 1990s and it is the first Caspian gas deposit to be tapped for exports. Reserves are an estimated 0.625 trillion cubic metres (cm) of gas and 101m tonnes of liquids - with potential for more finds at deeper horizons. At its peak the field will produce around 16bn cm/y of gas. Stage one targets 178bn c
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