Azerbaijan's giant Caspian offshore field of Shakh-Deniz, with reserves of over 1 trillion cubic meters of gas, was launched by a consortium led by BP and Norway's Statoil in 2006.
Azerbaijan hopes the project will allow it to become a major gas exporter to Europe to rival Russia's Gazprom, which currently provides Europe with a quarter of its gas needs.
Russia And Global Energy Security
An oil field in Russia's Republic of Bashkortostan (TASS file photo)
ENERGY SECURITY is increasingly moving to the top of the EU's agenda in its dealings the outside world. A recent report identifies the European Union's main energy objectives as not just securing gas and oil deliveries from Russia, but also ensuring that it has reliable alternative sources, including in Central Asia. Nonetheless, EU officials say relations with Russia take center-stage in their thinking....(more)