Pipelines, Storage & Power

Izmir agreements force Shah-Deniz to take stock

Shareholders in the Shah-Deniz 2 project have entered the final stage of decision-making, following Turkey-Azerbaijan transit agreements Shareholders in the Shah-Deniz 2 project have entered the final stage of decision-making, following Turkey-Azerbaijan transit agreements.
By Ahmed Mehdi 11 November 2011 0 1816
Existing and proposed gas pipelines across Europe. (Interfax)

The landmark transit agreements between Azerbaijan and Turkey signed last month in Izmir provide BP and its partners in the Shah-Deniz consortium with an alternative to the classic delivery-to-Baumgarten option offered by Nabucco. With the transit of 10 billion cubic metres of Azeri gas now destined for the Turkey-EU border, the agreement also paves the way for a number of important decisions that BP and its partners will have to make in the coming months.

The long-awaited October agreements establishing legal and commercial terms for gas...