Shah Deniz II

Overview:

• Shah Deniz II.
• Shah Deniz II is a project to develop the second phase of the Shah Deniz gas field, which is offshore Azerbaijan in the Caspian Sea. 
• The consortium developing the gas field comprises BP, State Oil Company of the Republic of Azerbaijan (SOCAR), Statoil, Total, Lukoil, TPAO and NICO. 
• The consortium secured $1 billion in financing for the development of in August 2015 from The Asian Development Bank (ADB), the European Bank for Reconstruction and Development and the Black Sea Trade and Development Bank.
• In March 2017 the consortium borrowed a further $500 million from ADB. 

Rani Mehta - Journalist