Shell partially acquires Shah Deniz gas contract from Engie


September 10, Fineko/abc.az. Shell and Engie, the Azerbaijani gas supply company and SOCAR, agreed on the transfer of the contract on gas supply of Shah Deniz, owned by Shell Energy Europe Limited.

According to SOCAR, both companies (Engie and Shell Energy Europe) provided gas to Azerbaijan from the Shah-Deniz field, according to a contract previously signed in 2013. Under the latest contract, Shell Energy Europe significantly increases gas supply to consumers, receiving a 25-year Engie contract. Engie remains an important buyer of Shah Deniz and is dynamically optimizing its long-term position.

The transfer agreement signed on September 5 provides for the transportation of natural gas to Italy after the completion of the TAP project.