Making a final investment decision on the second stage of the Shah Deniz field development project is an event of great importance for the further implementation of the Shah Deniz-2 project and the Southern Gas Corridor project as a whole, envisaging Azerbaijani gas transportation to the European markets at the initial stage.
The reserves at Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The cost of the second stage of Shah Deniz field development is $25 billion. The first gas volume is planned to be obtained as part of this project in 2018.
Some 16 billion cubic meters of gas (nine billion – as part of the first stage) are planned to be produced as part of the second stage of the field development, six billion cubic meters of which will be transported to Turkey and 10 billion cubic meters will be delivered to Europe.