Signing of final investment decision on extraction of gas from Azerbaijan, 17 December, Baku
An official signing ceremony was held on 17 December for the final decision to invest more than 18 billion dollars in the extraction of gas from the Shah Deniz II gas field in Azerbaijan. It was earlier agreed that ten billion cubics metres will be delivered directly to Europe every year, starting from the end of 2019. The construction of the TAP pipeline, upgrading of other relevant pipelines and the development of the Shah Deniz II gas field will strongly enhance Europe's energy security by diversifying its energy sources. The signing ceremony was held in Baku in the presence of Azerbaijan's President Ilham Aliyev.