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Total may exit Azerbaijan's Shah Deniz project

Business
18:44 | 27.02.2014
Total may exit Azerbaijan's Shah Deniz project

Total may exit Azerbaijan's Shah Deniz project

Total may sell its 10 percent stake in the Shah Deniz gas development and the South Caucasus Pipeline to Turkey's Botas, Energy Intelligence Group reported, citing a Socar official.

The report said Total may dilute its Shah Deniz holding without exiting.

BP and its partners in Shah Deniz agreed on December to develop the second phase of the project and pipe gas to Europe.

Partners include Azerbaijan's state oil company Socar, Statoil, Lukoil, Nico and TPAO.

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