London has issued a General Trade Licence allowing the continued operation of Azerbaijan’s Shah Deniz gas field under the UK’s sanctions regime against Iran.
According to the document, the new UK sanctions measures against Iran include specific exemptions designed to ensure the continued implementation and operation of the Shah Deniz project, which provides critical energy supplies to the UK’s European partners.
“This is a continuation of long-standing policy and aligns the UK with the EU and US, who have similar carveouts for activities related to Shah Deniz,” the document stated.
The licence applies to activities related to the operations of the related pipeline projects and joint ventures established to transport Azerbaijani gas to Türkiye and Europe.
The authorisation covers the supply of energy-related goods and technologies, provision of technical assistance, and financial or brokering services related to the energy sector, provided such activities are necessary for the operation of the specified projects.
According to bp data, the current production capacity of Shah Deniz’s operating facilities stands at approximately 28 billion cubic metres annually.
