The Shah Deniz consortium has reached an important milestone and approved the decision to start front end engineering and design (FEED) on the estimated $25billion Shah Deniz Stage 2 project.
When completed, the project will bring gas from the Caspian Sea to markets in Turkey and Europe, opening up the “Southern Gas Corridor”. Achieving this will enable the consortium to maintain its target for first gas exports around the end of 2017. Shah Deniz II is expected to add a further 16billion cu.m per year of gas production to the approximately 9billion cu.m from Shah Deniz Stage 1.