VOL. XLVI

No 9

3-March-2003

CASPIAN

Partners Sanction $3.2Bn Stage One Development Of Shah Deniz

After several months of hesitation over project feasibility, the partners in the Shah Deniz consortium sanctioned Stage 1 development for the offshore gas and condensate field on 27 February during a shareholders meeting in Baku. According to a statement released by project leader BP, the decision opens the door to a new East-West energy corridor linking theCaspian Sea to Turkey and beyond. The Shah...