The financial agreement between the main partners of Shah-Deniz project and partners of the Nabucco-West pipeline project will be signed in the coming weeks, Rovnag Abdullayev, President of State Oil Company ofAzerbaijan (SOCAR), told journalists yesterday.
"Nabucco shareholders need several weeks to work out a final variant of the agreement," said Abdullayev.
On October 8, 2012 Reinhold Mitterlehner, Austrian Minister of Economy and Energy, said at a press conference after the meeting of the Energy Ministers of Nabucco-West member-states that "the partners of the Shah-Deniz project have been negotiating acquisition of a share in Nabucco-West project."
"The negotiations to this effect are in progress," Reuters cited Mitterlehner as saying.
On June 28, 2012 the consortium developing Shah-Deniz gas condensate field has selected Nabucco-West as a priority route for gas delivery to the Southeast and Central Europe. Now the main partners of Shah-Deniz project plan to sign a financial agreement with the Nabucco-West pipeline consortium. According to the document, if in 2013 Azerbaijan chooses Nabucco-West as the main route for the gas deliveries to the European market, then 50% shares of the pipeline will belong to the main partners of Shah-Deniz, including SOCAR, BP, Statoil and Total.
On August 9, 2012 the main partners of Shah-Deniz, except Statoil, which is already partner of TAP pipeline, signed the similar agreement with the TAP pipeline consortium (Trans-Adriatic Pipeline).
One can say that in the future the main partners of Shah-Deniz project will be present in all transport links for Caspian gas deliveries to Europe, including SPC Co, TANAP Co and the newly-created consortium in Europe.
* The Nabucco shareholders are Austrian OMV, Hungarian FGSZ, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German Botas and German RWE, each of which has a share of 16.67%
* The TAP shareholders are Norwegian Statoil and Swiss EGL company (42.5%) as well as E.On Ruhrgas (15%).-0-
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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