TODAY.AZ / Business

Total gas production from offshore Shah Deniz up by 26.2 pct in 5M2022

01 July 2022 [13:00] - TODAY.AZ

By Azernews

By Ayya Lmahamad

The total gas production from the Shah Deniz, which is among the world’s largest gas-condensate fields, increased by 26.2 percent in the first five months of 2022, Azernews reports.

Moreover, the total gas production from the field increased by 123 percent during the period 2017-2021.

June 30 marks four years since the start of commercial gas supplies to Turkey within the framework of the Shah Deniz 2 project, which is the second phase of development of the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea.

Turkiye imports Azerbaijani natural gas through the South Caucasus Gas Pipeline (Baku-Tbilisi-Erzurum) and TANAP. Azerbaijan supplies gas to Turkiye only from the Shah Deniz field.

The contract on the development of the Shah Deniz gas field was signed in 1996. Shareholders of the Shah Deniz project are BP (operator, 28.8 percent), TPAO (19 percent), AzSD (10 percent), SGC Upstream (6.7 percent), and PETRONAS (15.5 percent), LUKOIL (10 percent), and NICO (10 percent).

URL: http://www.today.az/news/business/222425.html

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