Nabucco reaches agreement with Shah Deniz consortium
Ankara, Janaury 11 (AZERTAC). Sofia, capital of Bulgaria hosted signing of agreement between Nabucco project and Shah Deniz consortium on Jan. 10.
Bulgaria could begin work on its stretch of Nabucco, expected to run for 424km, as early as mid-2013, Bulgarian Prime Minister Boiko Borissov said at the meeting.
Borissov called the parties that refused the project before to review their decisions; otherwise they would buy natural gas at a higher price. As one of the shareholders Turkish Deputy Minister of Energy and Natural resources Murat Mercan expressed his pleasure at this agreement. He spoke about the significance of the Trans-Anadolu Natural Gas Pipeline Project agreed with Azerbaijan in European energy security.
After this agreement Shah Deniz-2 Consortium will make the final decision and will have 50% stake in “NABUCCO Pipeline International”. The shares of other Nabucco shareholders, including Turkey's Botas, Romania's Transgaz, Hungary's MOL through its gas pipeline operator FGSZ and Bulgaria's BEH will be determined in the meeting to be held on Jan. 18. These companies holding 16.7 percent stakes will sell some of their stake to Shah Deniz-2 consortium.
Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from the Turkish-Bulgarian border to Austria.
In June, 2012 the consortium of Azerbaijani Shah Deniz gas field development chose Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe. The final decision on the pipeline route to transport Azerbaijani gas to Europe will be made this year.
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