BP Postpones Realization of Gas Project in Azerbaijan: Azerbaijani Minister

BP Postpones Realization of Gas Project in   Azerbaijan: Azerbaijani Minister

Azerbaijan, Baku, 4 June / corr Trend S.Aliyev / Natig Aliyev, the Azerbaijani Minister for Industry and Energy, voiced his concerns over the term of development Stage 2 of Shah gas field development project in Azerbaijan by BP company, a technical operator of Shah Deniz Project.

"This is my private viewpoint that BP postpones this project," the minister told journalists on 4 June.

The realization of Stage 2 of the Shah Deniz field is scheduled for 2012, but it might be left for 2013 if BP continues working in this way," Aliyev said. Production from the field can be increased to 12bln cu m of gas a year during Stage 2.

He thinks that BP can explain delay of the realization of Stage 2 with the marketing of gas consumption markets. The market should raise concerns. Market is in at our hands and this is a huge market," the minister said.

Taking into consideration Europe's current and predicted demand for gas, Shah Deniz project ahs gained considerable significance. "Therefore, BP was to intensify some processes," Aliyev said.

According to the minister, 12bln cu m of gas to be produced from the Shah Deniz field under Stage 2 are yet insufficient for such big field with the estimated reserves of 1.2trln cu m.

"We could raise the gas production rate in the field with the consideration of international experience. Such fields attain production rate at 20-40bln cu m a year over 1.5-2 years almost from zero," the minister said.

Aliyev said that it was worth to reconsider the action program to increase gas production from the Shah Deniz project.

"I think that peak [in gas production under Stage 2] can be increased to 30bln cu m if gas a year [from 12bln cu m as scheduled]," the minister said.

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