Less Interest in Shah Deniz

The consortium developing Azerbaijan's giant Shah Deniz II gas field, Europe's best hope of diversifying supplies away from Russia, is finding less interest for its gas from buyers across the continent, BP said on Friday.

BP's Vice President of Shah Deniz Development, Al Cook, said the project has seen a 25 percent reduction in demand expressed by European buyers since 2010 for future deliveries of Azeri gas once it starts flowing through pipelines across Turkey to Europe in 2019.

But despite the drop in interest, demand still far outstrips the 10 billion cubic meters per annum (Bcma) that Azerbaijan has earmarked for customers in Europe, Cook said.

"Two years ago demand for Azeri gas was 40 Bcma (billion cubic meters per annum), today it's 30 Bcma," BP's Vice President of Shah Deniz Development Al Cook said.

(Reuters)


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