Shah Deniz 2 awaits TANAP FID for project commencement
Hürriyet Daily News
Al Cook, the
Vice President of Shah Deniz Development, emphasizes the importance for
TANAP’s key shareholders, Turkey and Azerbaijan, to finalize their
decision on investment plans to carry gas.
The Shah Deniz 2 consortium is awaiting the partnership heading the
Trans Anatolian Natural Gas Pipeline project to make their FID prior to
making their own, with the FID required to trigger the execution of
plans to develop Azerbaijani gas fields, according to a high level BP
executive.
The TANAP oil pipeline will be carrying gas from Azerbaijan through Georgia
and Turkey to European markets the year. Talking yesterday at the
Atlantic Council summit in Istanbul, Al Cook, the Vice President of Shah
Deniz Development, emphasized the importance for TANAP’s key
shareholders, Turkey and Azerbaijan, to finalize their decision on
investment plans in order for the FID required for the Shah Deniz 2
project to be made.Yet the reverse is also true for TANAP, according to
energy experts, who said TANAP is also waiting for the Shah Deniz 2
consortium to make its final investment decision in order for the
project to receive the green light.
“Shah Deniz 2 needs to make
the FID before the end of the year because they can no longer delay it,”
John Roberts, an energy security specialist, told the Daily News. Al
Cook expressed confidence that the Shah Deniz 2’s final investment
decision will be made before the end of the year, although admitting
that “there will be few very busy weeks ahead.”
TANAP foresees to
carry 31 bcm of gas annually while the initial Azeri gas to be produced
is expected to be 16 bcm. Al Cook asserted his confidence in the
additional production of gas while talking about new gas fields in
Azerbaijan, likening them to a “main course”; in contrast, the initial
16 bcm of gas that is expected to flow from TANAP could serve as an
appetizer rather, using the metaphor of a meal to distinguish between
the two.
“TANAP links the largest source of gas to the largest gas market which is Europe
and this underpins our confidence,” he said. Al Cook called on the
governments within the scope of the projects to continue extending their
support. “In the last five years period we learned that the support of
governments was essential,” he said, calling first on Turkey and
Azerbaijan’s continued support, given their role as key players in the
projects. Cook also mentioned the U.S. Government’s support, which began
back in the early 90’s, enabling the construction of the
Baku-Tbilisi-Ceyhan oil pipeline, the region’s first. Cook also said
they would like to see “the considerable role” played by the European
Commission to continue. The European Commission’s support for the
diversification of supply routes should not only be limited to massive
pipeline projects like TANAP but also to smaller ones that will be
constructed, connecting Balkan countries.
Azeri natural gas is planned
to be carried to Turkish border via TANAP and then to Greece, Albania
and Italy through the Trans Adriatic Pipeline (TAP). The Greek
company DEPA is already continuing work to expand its connection with
Bulgaria, with plans to build further smaller pipelines that will
connect with pipeline networks in Romania, Hungary and Serbia, according
to Harry Sachinis the CEO of DEPA.
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