Azerbaijan Did Not Receive Gas Revenues from Giant Shah Deniz Project in January 2021
According to the results of the first month of 2021, the state did not receive profitable gas from the giant Shah Deniz project
The total revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable gas and condensate produced from the Shah Deniz field in January 2021 amounted to $ 3 538 000.
According to the official statement of the Fund, all these incomes were received from the sale of condensate.
At the same time, SOFAZ did not explain why gas revenues within the Shah Deniz project turned out to be zero.
Recall that at the end of 2020, the total receipts to the Oil Fund from the Shah Deniz project amounted to $ 293.9 million.
A PSA-type contract for the exploration and development of the Shah Deniz structure was signed on June 4, 1996. In June 1999, the discovery of the field was announced. In November 2006, production of the first gas began. Export of Azerbaijani gas to Turkey began on July 3, 2007 within the project.
The participants of the Shah Deniz project are: BP (operator, 28.8%), Petronas (15.5%), SOCAR (16.7%), LUKoil (10%), NICO (10%), and TPAO (19 %).