Azerbaijan, Baku, Dec. 30 / Trend E.Ismayilov /
Supply of Azerbaijani gas to the European market will be launched between late 2017 and the first quarter of 2018, the head of State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said at the event on the year totals on Sunday.
"The project on delivery of Azerbaijani gas to Europe is a very large project and requires a lot of time and funds," he said.
In particular, the consortium developing the Shah Deniz field has already approved the budget of the second development phase of the gas condensate field for 2013, which will allow to start investing six billion dollars in implementation of the second phase.
"The funds will be directed to build the necessary infrastructure, construction of platforms, expansion of gas transport infrastructure," he said.
In general, implementation of the project's second phase will require $28-30 billion. The project on delivery of Azerbaijani gas to Europe is estimated at $40-50 billion including the creation of necessary infrastructure.
Construction of Trans-Anatolian gas pipeline within the project may require investments in the amount of $7-10 billion.