July 02–British energy major BP said Monday it started up the massive Shah Deniz 2 gas development in the Caspian Sea designed to create a major new natural gas pathway to Europe.
The $28 billion project is now delivering gas to Turkey with the plan of feeding gas to all of Europe once the Southern Gas Corridor pipeline expansion project is completed by 2020.
The Shah Deniz 2 project includes two platforms offshore of Azerbaijan that are built adjacent to one another and connect via a bridge. The project will produce nearly 53 billion cubic feet of gas daily compared to the roughly 33 billion cubic feet of gas now produced from the first phase of Shah Deniz.
BP said Shah Deniz 2 is the largest project it will complete this year.
“Shah Deniz 2 is one of the biggest and most complex new energy projects anywhere in the world, comprising major offshore, onshore and pipeline developments,” said BP Chief Executive Bob Dudley. “Together with the Southern Gas Corridor pipeline system, Shah Deniz 2 will deliver significant new energy supplies to Europe, further diversifying its sources of energy and providing new supplies of natural gas which will be essential in the energy transition.”
BP operates the project and owns a leading 28.8 percent stake, along with the state oil companies of Turkey, Georgia, Azerbaijan, Malaysia and Iran, as well as Moscow-based Lukoil.
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