Nabucco, Shah Deniz partners sign two agreements
Nabucco consortium and the partners on the Azerbaijani Shah Deniz gas condensate field's development (SOCAR, BP, Statoil and Total) signed Cooperation Agreement, as well as Equity Option and Funding Agreement.
The documents were signed on Friday in Vienna between the Shah Deniz partners, Nabucco gas pipeline project's shareholders and Nabucco Gas Pipeline International Gmbh (NIC).Equity Option and Funding Agreement, in particular, envisages joint funding of the development costs of the Nabucco West up to the pipeline selection decision for Shah Deniz' European export route, as well as the granting to Potential Investors of equity options of 50 percent to participate as shareholders in NIC following a positive pipeline selection decision by the Shah Deniz Consortium in favour of Nabucco West.
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 in June, 2013.
| Source: | trend.az |