Middle East Economic Survey


No 18



Shah Deniz 2 Costs Rising, Start-Up Date Pushed Back Again

Azerbaijans Minister of Energy Natiq Aliyev told a press conference in Baku on 27 April that the total cost of the second phase of Azerbaijans giant Shah Deniz gas condensate field development will be between $16bn and $20bn, with $20bn being the most probable estimate scenario. He said that the project would raise Azerbaijans gas exports to Europe to between 15 bcm/year 20...