New cost of Shah-Deniz project to be defined

Kelly noted that at present experts of the company independently studied a business schedule and cost of the project with consideration of increased prices of metal and construction materials.

An initial cost of the construction work was increased by 25% and is estimated to $2.3bn.

The first gas from the Shah-Daniz project was delivered to Turkey in the 4th quarter of 2006 (as of some data on 30 September).

According to Kelly, the progress over the Shah-Daniz project comprises 52.5%, whereas the actual figure was fixed at 50.9%.