Participants in the Shah Deniz gas deposit consortium announced in Baku today that they have made a final decision on the financial aspect of the second phase of the project.
According to the head of the Oil Research Centre, Ilham Shaban, many European countries are paying special attention to the project since it's crucially important for the whole of Europe.
The deposit is expected to contain 1.2 trillion cubic metres of gas, which is more than in the Kazakh Kashagan deposit, which has a capacity of 1trillion cubic metres. It means that the Shah Deniz project plays a key role in securing Europe's energy safety, the expert says.
