Nabucco Gas Pipeline Project Says Has Submitted Transit Offer To Shah Deniz II
October 01 2011 - 5:52AM
Dow Jones News
Nabucco Gas Pipeline International GmbH--the European consortium
that plans to build a natural gas pipeline to connect the Caspian
region with central Europe--said Saturday it has made an offer to
transport gas from Azerbaijan.
In a written statement, Nabucco said it has made "a
comprehensive [gas] transportation offer" to the Shah Deniz II
consortium, which develops a giant gas field off Azerbaijan's
Caspian Sea coast.
"We are convinced that Nabucco offers the best path of transport
for the export of natural gas from Azerbaijan and other countries,"
said the company in a written statement.
The Nabucco consortium includes German utility RWE AG (RWE.XE),
Austria's OMV AG (OMV.VI), Hungary's MOL Nyrt (MOL.BU) and three
other shareholders, each of which owns approximately 16.7%. Oct. 1
is the deadline for interested projects to make an offer to
transport the first sizeable volumes of Caspian natural gas
expected to reach Europe in the next decade.
The consortium of companies--that includes energy giants such as
BP PLC (BP, BP.LN)--developing the Shah Deniz II gas field offshore
Azerbaijan is expected to pick a winner by the end of the year.
A person familiar with the matter late Friday told Dow Jones
Newswires that a competing pipeline project--ITGI, which is
sponsored by Italy's energy company Edison SpA (EDN.MI) and
Greece's DEPA--also submitted an offer. A third gas pipeline
project--the Trans Adriatic Pipeline, which includes German utility
E.ON AG (EOAN.XE)--said Friday that it is ready to submit an offer
to the Shah Deniz II group of companies.
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com
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