Gas projects of Azerbaijan: main players are clear

The participants of the Shah Deniz project have been shuffled, and almost on the eve of major investments into the project in connection with the transfer from the initial stage to full-scale development of the largest gas field in Azerbaijan. These changes allow us to make sertain conclusions about the interests of all the parties involved.

At the end of the previous year, just before the final investment decision on the Shah Deniz-2 project at the value of $28 billion, the first change in the composition of its members since the signing of the contract in 1996 took place.

Then Norway's Statoil announced the sale of its stake in the project. The buyers of 10% became the project operator British BP and SOCAR. By May 1st of 2014, Statoil fully concluded the sale of the part of its 25.5 % in the Shah Deniz and South Caucasus Pipeline (SCP) projects. SOCAR acquired 6.7% of 10% and BP – 3.3%. The company received $1.45 billion due to the assets sale. Statoil still has a small package in the amount of 15.5% in Shah Deniz.