OMV: Azeri gas consortium rejects Nabucco pipeline

nabucco west pipeline_455

Trans Adriatic Pipeline (TAP) seems finally to be choosen by Azerbaijan to transport gas to Europe.


The prevalence of TAP in the selection process of the pipeline that would carry the Azeri gas to Europe basically confirmed by the Nabucco joint venture led by Austrian OMV, which had submitted also its offer.
The project of Nabucco West was not selected,” OMV intends to play a role in further securing and diversifying the gas supply to Europe and will assess alternatives to complement the existing supply routes.”
According to OMV, the consortium chose TAP to the competitive Nabucco West based on the higher energy prices in Italy and Greece.
The Nabucco project is over for us,” said the CEO of OMV Gerhard Roiss at a press conference, refuting allegations regarding the chance of the Nabucco construction.
Also he was asked if they really want to achieve higher energy prices in Greece plagued by recession and Italy, there is an abudance of gas supply. “The question as to whether this is a cover for political decision is something that you will judge,” he said.
In the TAP  are involved the British BP and Norway’s Statoil with percentages of 25.5% and the SOCAR (Azerbaijan, 10%), Total (France, 10%), LukAgip (Italy’s Eni and Russia’s LUKoil, 10%), NIOC (Iran, 10%) and TPAO (Turkey, 9%).
The Azeri Shah Deniz II gas in the Caspian, one of the largest worldwide, is expected to fuel a year with 6 billion cubic meters (bcm) of gas to Turkey and 10 bcm Europe.

Source Reuters

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s