Shah Deniz begins assessing pipeline offers
The Shah Deniz consortium has announced it has begun assessing offers from two competing pipeline consortiums looking to carry natural gas from the Shah Deniz gas field offshore Azerbaijan into Europe.
A decision from the BP-led Shah Deniz project will have major consequences for the region's energy policy by helping to diversify Europe's gas supplies away from Russia’s energy monopoly.
Investment in the development of the second phase of the Shah Deniz gas field and all connecting pipelines has been estimated at around US$ 40 billion, including some US$ 25 billion for the upstream section.
The Trans Adriatic Pipeline AG (TAP) and rival Austria-based consortium Nabucco Gas Pipeline International GmbH have competed for years to be selected by the companies developing the Shah Deniz II gas field.
The Shah Deniz consortium, which includes Norway's Statoil ASA and Azerbijan's state oil company Socar, will make a decision between the two rival pipeline consortiums, the Trans Adriatic Pipeline AG (TAP) and Nabucco Gas Pipeline International GmbH. A decision is expected before July.
BP has confirmed in a statement that, following extensive negotiations with the Shah Deniz consortium, both offers from TAP and Nabucoo have been approved by their respective shareholders and have become final and binding.
Nabucco Gas Pipeline International and TAP are offering to carry 10 billion m3/yr of gas to different markets in central and southern Europe.
Edited from various sources by Cecilia Rehn.
Read the article online at: https://www.worldpipelines.com/business-news/03052013/shah_deniz_begins_assessing_pipeline_offers-394/
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