It is planned to sign the agreement with the Nabucco West by mid-December

A decision on short-term financing of the project Nabucco West with a view to a more detailed study will be adopted by mid-December this year, reporters  were told by  the  president of SOCAR, Rovnag Abdullayev, on the sidelines of an international conference "Azerbaijan 2020: Look to the Future."

On August 9, 2012 Trans Adriatic Pipeline (TAP) and partners to develop offshore gas condensate field "Shah Deniz" signed an agreement on the financing the project prior to the period of selection   of the final route  for export of Azerbaijani gas to Europe. The agreement provides for the possibility of acquiring partners to develop "Shah Deniz" up to 50% in the TAP project. Designer of the project are: Swiss EGL, Norway's Statoil, Germany's E.ON Ruhrgas.

It was planned to sign the financial agreement with the  participants  of the project Nabucco West  in the end of October. However, representatives of the pipeline consortium asked for time for a more thorough analysis of bids, "Shah Deniz".

Currently, the consortium "Shah Deniz" considering two options for the supply of natural gas from Azerbaijan to Europe - Nabucco West and TAP, in favor of one of them should be determinative. It is expected that a final decision on this matter will be taken up to 30 June, 2013. --12В--