It is planned to increase annual gas extraction from the Shah-Deniz Phase 1 project up to 10.4 billion cub.m, Alistair Cook, BP Vice President for Shah-Deniz field development, told journalists at a press conference last evening.
“We have already started works and the results show that the existing infrastructure allows extracting 9.8 billion cub.m. of gas a year from the Shah-Deniz Phase 1. Till the end of 2014 we plan to increase extraction up to 10.4 billion cub.m,” Cook added.
He also said that additional 1.4 billion cub.m. of gas, which will be extracted within the framework of Shah-Deniz Phase 1, will be purchased by State Oil Company of Azerbaijan (SOCAR).
In the future we plan to sign a separate commercial contract for gas purchase.—0—
Economics
-
Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
-
Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
-
Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
-
In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
Leave a review