Shah Deniz consortium to take part in European decision making process
Azerbaijan, Baku, Oct. 12 /Trend E.Ismayilov/
The share that the partners in the development of the Shah Deniz gas condensate field are going to have in a pipeline project, will depend on organization of decision making system, high ranking SOCAR representative told Trend on Friday.
In his words, just 1 per cent is sufficient to have a complete negative veto in the system with unanimous voting. In case vote, based on the principle of 50 per cent, the consortium participants would like to have 51 per cent of share in this project.
"We need such a share, which will enable participation in decision making process, this depends on the system. We are working on that," SOCAR representative noted.
Shah Deniz partners are currently considering two potential transportation projects of Azerbaijani gas to Europe - Nabucco West and Trans Adriatic Pipeline (TAP).These projects are considered on the same criteria in order to make a decision on route choice till May of next year.
Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from Turkish-Bulgarian border to Austria.
The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ, and each of them holds 16.67-percent share.
TAP project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe
TAP's initial pipeline capacity will be 10 billion cubic metres per year, expandable to 20 billion cubic metres per year. TAP's shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).