Azerbaijan, Baku, Dec. 18 / Trend A. Badalova /
The project to develop the Azerbaijani gas condensate field of Shah Deniz is one of BP's most significant projects in Eurasia, British Petroleum director for international affairs Greg Saunders said at an international conference organised by the Jamestown Foundation in Washington today.
Saunders called the Baku-Tbilisi-Erzurum gas pipeline (South Caucasus Pipeline) project as the most advanced engineering project of modernity.
"For the first time in the history, this project will open a southern route to deliver Caspian gas to Europe," he said.
He also added that the Shah Deniz development project will help strengthen energy security and strategic interests of the EU and the U.S. in terms of a multiple projected increase in consumer demand for natural gas.
The contract to develop offshore Shah Deniz was signed on June 4th, 1996. Participating interests are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, Lukoil - 10 per cent, TPAO - 9 per cent and SOCAR - 10 per cent.
The length of the Baku-Tbilisi-Erzurum (South Caucasian gas pipeline) is over 700 km. Gas produced from the Shah Deniz field in the Azerbaijani sector of the Caspian Sea is transported via the pipeline. The gas is supplied to Georgia and Turkey. Azerbaijan also appears as the buyer of gas.
At present, the partners of Shah Deniz are considering two possible transportation projects for the shipment of Azerbaijani gas to Europe - Nabucco West and Trans Adriatic Pipeline (TAP). These projects are being considered with the same criteria used to make a decision on a route by May 2013.