The consortium to develop gas condensate in the Shakh Deniz gas field
in the Azerbaijani sector of the Caspian will announce in the first
quarter of 2011 the final buyers of the gas within the framework of
the second stage of the field’s development. The buyers will be
selected based on a shortlist, Reuters reports, citing the Executive
Director of RWE Supply & Trading, Stefan Judish.
The contract on development of Shakh Deniz was signed on June 4, 1996.
Participants of the agreement are BP with a 25.5% share, Statoil –
25.5%, NICO – 10%, Total – 10%, Lukoil – 10%, TPAO – 9% and SOCAR –
10%.
At the first stage the gas field will produce up to 25 billion cubic
meters annually.
The leading role in developing the gas field belongs to the State Oil
Company of the Azerbaijan Republic (SOCAR).
Trend reported earlier, citing a spokesman from SOCAR, that partners
of Shakh Deniz are negotiating with European buyers to conclude a deal
on the second stage of the field’s development. The contracts for gas
supplies are planned to be signed in October 2011. The final financial
decision will be made in March.
The first gas supplies within the second stage are expected to be
available in late 2016 or early 2017. Judish said that the third round
of talks within the second stage of Shakh Deniz with the authorities
of BP is planned for November 12.
Participants in the Nabucco gas pipeline, including RWE, expect large
amounts of gas supplies from Azerbaijan and Iraq to fill the pipeline.
Shakh Deniz may become the source for the Nabucco project.
Turkmenistan is viewed as another possible supplier of natural gas for
the consortium.
