In the near future the Nabucco West gas pipeline consortium will sign a shareholding agreement with the partners of the Shah-Deniz consortium.
"The agreement will be signed within several days," said official representative of Nabucco Gas Pipeline International GmbH consortium.
Reinhardt Mitchek, General Director of Nabucco Gas Pipeline International GmbH company, said earlier that Nabucco West plans to finish work on the shareholding agreement with the partners of the Azerbaijani Shah-Deniz field in April 213.
Nabucco West envisages construction of 1300-km-long pipeline (412 km through Bulgaria, 469 km through Romania, 384 km through Hungary and 47 km through Austria) from the Turkish-Bulgarian border to the Austrian Bumgarten. Gas, which will be extracted on the Shah-Deniz Phase-2, is considered as the main source for the project.
At present the Shah-Denis consortium considers two options of gas transportation to Europe - Nabucco West and TAP. The final decision on the pipeline route is expected to be made in June 2013.
In January 2013 the Nabucco West shareholders and the Shah-Deniz partners signed the cooperation agreement and the ownership and funding agreement.
The ownership and funding agreement envisages join funding of the costs for the Nabucco West project till selection of the route of Azerbaijani gas transportation to Europe. It also envisages providing the potential investors the right to own 50% share in the project, if Nabucco West is selected as a final route.
At present the Nabucco West shareholders are Austrian OMV, Hungarian FGSZ, Bulgarian Bulgargaz, Romanian Transgaz and Turkish BOTAS.-0-
Economics
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