LUKOIL buys PETRONAS' Azerbaijan gas assets for US$2.25 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
- Executive summary
- Transaction details
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Upstream assets
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Shah Deniz (upstream)
- Shah Deniz Phase One
- Shah Deniz Phase Two
- South Caucasus Pipeline (midstream)
-
Shah Deniz (upstream)
- Deal analysis
-
Upsides and risks
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Upsides
- Attractive near-term gas netbacks to Europe
- BTC blend oil price upside
- Shah Deniz resource upside
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Risks
- Weak longer-term gas netbacks to Europe
- Turkey gas export uncertainty
- Failure to realise Southern Gas Corridor expansion ambitions
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Upsides
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Strategic rationale
- LUKOIL
- PETRONAS
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Shah Deniz and South Caucasus Pipeline
- LUKOIL Caspian Sea production by asset
- Shah Deniz production profile
What's included
This report contains:
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