BP Plc (BP/), leading Azerbaijan’s $25 billion Shah Deniz 2 gas project, approved the next phase of development as the country studies export routes to Europe.
BP Chief Executive Officer Bob Dudley and Azeri President Ilham Aliyev approved the start of the so-called front-end engineering and design process, BP’s local office in Baku said today in an e-mailed statement. FEED comprises engineering studies, wells, commercial agreements and construction deals.
Azerbaijan and the development partners at Shah Deniz are evaluating proposed pipeline routes to Europe via Turkey, including the European Union-backed Nabucco project, the Trans- Adriatic Pipeline and BP’s South-East Europe Pipeline. The group will make a decision in 2013 and start exports around the end of 2017, according to the statement.
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