Nabucco offers Shah Deniz consortium 50-percent share in project

Nabucco offers Shah Deniz consortium 50-percent share in project

Azerbaijan, Baku, April 8 / Trend, E. Mehdiyev /

Nabucco West has offered the consortium of Azerbaijan Shah Deniz field development a 50- percent share in the project, CEO of Nabucco Gas Pipeline International GmbH Reinhard Mitschek told journalists in Baku on Monday.

"That has been concluded already in the mid of January in the Equity Option and Funding Agreement and the granted share to the Shah Deniz Consirtium is 50 percent," Mitschek said.

He also stressed that in the end of June once Nabucco West will be selected and the four companies of the Shah Deniz consortium (SOCAR, BP, Statoil and Total) join the project, there will be one shareholder group.

Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from the Turkish-Bulgarian border to Austria. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for the project.

The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ.

In late March Nabucco Gas Pipeline International GmbH has submitted a Pipeline Decision Support Package to the Shah Deniz Consortium, which contains all of the important elements requested by the producers to establish a commercial value chain for Azerbaijani gas.

The final decision on the pipeline route to transport Azerbaijani gas to Europe will be made in June, 2013.

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