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BP Makes Landmark Deal to Provide Europe With Pipeline Oil

BP has signed a deal with a group of oil companies to pump gas via a pipeline from a field in Azerbaijan to Italy, giving the European Union an alternative to Russia as a source of pipeline oil. This comes after arguments about gas pricing between Russia and Ukraine made European leaders worry about disrupting shipments of oil, as several major pipelines run through those two countries. The Shah Deniz field in Azerbaijan will be expanded to increase production by 16 billion cubic meters a year, according to BP. The project involves drilling in the Caspian Sea and building pipelines through Turkey leading into Greece, Albania, and Italy. Oil from the Shah Deniz field will reduce the EU



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