Four years pass since first commercial gas supply from Shah Deniz-2 to Turkiye

Today, four years have passed since the start of the first commercial gas supplies to Turkiye within the Shah Deniz-2 project in the Azerbaijani sector of the Caspian Sea, Report informs, citing the State Oil Company of Azerbaijan (SOCAR).

The total gas production of the Shah Deniz field increased by 123% in 2017-2021 and 26.2% in the first five months of this year.

The agreement on exploration, development, and production sharing of the Shah Deniz field was signed on June 4, 1996. The Shah Deniz Production Sharing Agreement (PSA) was ratified on October 17, 1996. The field, located 70 km southeast of Baku, was discovered in 1999.

BP (operator - 29.99%), LUKoil (19.99%), TPAO (19%), SOCAR (14.35%), NICO (10%), SGC Upstream (6.7%) are involved in the project.