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-
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