TODAY.AZ / Business

“This is a big exercise in diversification"

03 January 2014 [09:00] - TODAY.AZ
British “The Financial Times” newspaper has issued an article on Shah Deniz 2 project.

The article says: “Agreements signed in Baku, Azerbaijan’s capital, will see a BP-led consortium start work on Shah Deniz II – a $28bn natural gas project in the Azeri sector of the Caspian that has been on the drawing board for years. The gas they produce will be sent through two enormous pipelines, one called Tanap and running the length of Turkey, and the other stretching across Greece into Italy, called TAP. The whole endeavour – gasfield, pipelines and all – is expected to cost about $45bn. Yet the amount of gas that will actually be piped into the EU is small – 10bn cubic metres per annum.

“This is a big exercise in diversification, both of routes and source,” says Riccardo Puliti, head of energy and natural resources at the European Bank for Reconstruction and Development.”



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