bp, along with its partners has entered into a series of agreements in Azerbaijan. The agreements include final investment decisions (FID) for the development of the Shah Deniz Compression project, the Shafag solar, and the Sangachal terminal electrification projects.
The Shafag solar project has a capacity of 240 MW. The renewable electricity generated by the solar project in Azerbaijan’s Jabrayil district will be supplied to the grid operator AzerEnerji. This will, in turn, provide equivalent power to the Sangachal oil and gas terminal, which is operated by bp near Baku.
Furthermore, bp, SOCAR Green, and ABDF have ownership interests in the solar project, where bp owns 50.01 per cent stake in the project, SOCAR Green owns 39.99 per cent, and ABDF owns the remaining 10 per cent stake. Construction of the project is expected to begin in 2025, and it will be completed in mid-2027.
Development of the Sangachal terminal electrification project was approved by investors in the terminal, namely bp, SOCAR, TPAO, LUKOIL, SGC, NICO, MOL, INPEX, ExxonMobil, ITOCHU, ONGC Videsh, Eni, MVM, and TotalEnergies. Additionally, the project will be developed and managed by bp as the operator of the terminal. Construction of the project is planned to begin in 2025. Completion is expected in two stages, with stage one in mid-2027 and stage two by the end of 2028.
