South Caucasus Gas Pipeline Capacity May Be Increased -Azeri Minister
April 24 2012 - 8:15AM
Dow Jones News
The annual capacity of the South Caucasus natural gas pipeline,
also known as Baku-Tbilisi-Erzurum Pipeline, may be increased to
between 30 billion cubic meters and 35 bcm from the current 16 bcm
and eventually even tripled, Azerbaijan's energy minister Natig
Aliyev said Tuesday.
He said the initial capacity increase is needed to meet
additional production of 16 bcm a year from the Stage 2 of Shah
Deniz field development.
Oil major BP PLC (BP) said April 17 the Shah Deniz consortium,
in which the company has a pivotal role, has approved the decision
to start front end engineering and design, or FEED, on the
estimated $25 billion Shah Deniz Stage 2 project.
The other Shah Deniz partners include Norway's Statoil ASA (STO)
and Azerbaijani state energy company SOCAR, as well as France's
Total SA (TOT), Russia's Lukoil Holdings (LKOH.RS) and Iranian
national oil company Naftiran Intertrade Co.
The minister also said that the pipeline's capacity may be
increased to 55 bcm a year, if Azerbaijan agrees with Turkmenistan
to pump natural gas from the latter via this pipeline. However, he
noted, that despite his government's political will to move ahead
with this project, Turkmenistan has yet to decide on it.
-By Alexander Kolyandr and Aida Sultanova, Dow Jones Newswires;
+7 495 232-9192 alexander.kolyandr@dowjones.com
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