The Shah Deniz consortium has taken the final investment decision (FID) for the new Shah Deniz Compression (SDC) project being developed in the Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea. The US$2.9bn SDC project is designed to access and produce low pressure gas reserves in the field and maximize resources recovery expecting to enable around 50 bcm of additional gas and approximately 25 mbl of additional condensate production and export from the field. Construction activities are planned to commence in late 2025, with completion expected in 2029 to be ready to receive first gas for compression from the SDA platform in 2029 and from the SDB platform in 2030. The members of the Shah Deniz consortium are BP (operator, 29.99%), LUKOIL (19.99%), TPAO (19%), SGC (16.02%), NICO (10%) and MVM (5%).
BP has also secured and agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) to build a 240 MW solar power plant in the Jabrayil district in the region of Karabakh (Azerbaijan). The US$200m project is scheduled to be completed in mid-2027.
Azerbaijan has about 1 917 bcm of gas proven reserves, while the country also has a solar potential of about 23 GW.
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