Shah Deniz investment decision to be made in a month

A final investment decision on a project to supply European buyers with gas from Azerbaijan's Shah Deniz II field will be signed in a month, a source at Azeri state energy company SOCAR said.

"This decision will be made either on December 17 or December 19," the source, who is close to the project and did not want to be identified, told Reuters.

Earlier this year, SOCAR and partners including BP and Statoil selected the Trans Adriatic Pipeline (TAP) for potential gas deliveries to Europe over its Austria-based rival Nabucco West.

TAP will utilise Azerbaijan's vast Shah Deniz II project in the Caspian Sea, one of the world's largest gas fields with an expected investment of more than $40 billion including pipelines, and help Europe reduce its reliance on Russian gas.

Buyers of Azeri gas from its Shah Deniz II project are Shell , Bulgargas, Gas Natural Fenosa, Greek DEPA, Germany's E.ON, French GDF Suez, Italian regional utility Hera Trading, Swiss AXPO and Italian Enel.

From around 2019 Shah Deniz II is expected to feed 16 billion cubic metres (bcm) of gas per year to Europe, with 10 bcm earmarked for Europe and 6 bcm for Turkey.ANN.Az