Shah Deniz 2 and oil price rise to drive Azerbaijan recovery, predicts S&P

Shah Deniz 2: A combination of European demand for Caspian Sea hydrocarbons and a revival of oil prices to an average of $75 a barrel between 2016 and 2018 will see a return to form for Azerbaijan, the international credit rating S&P is predicting – but not before its economic growth has slowed down from 5.8% in 2013 to 1.9% this year. S&P expects the price of oil to drop to $55 a barrel in 2015 before recovering over the next three years. By 2018, it believes that this, along with the the Shah Deniz 2 field coming on stream and the completion of the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) pipelines, will drive Azerbaijan’s economic recovery and has  subsequently  affirmed the country’s BBB-/A-3 long- and short-term sovereign credit ratings. TREND, Reuters