NABUCCO: Shah Deniz II Decision a Setback for Planned European Gas Highway

NABUCCO Gas Pipeline International GmbH acknowledges the decision by the members of the Shah Deniz II Consortium to select the Trans Adriatic Pipeline as the delivery route for the initial 10 bcm of gas to the Italian market.

The decision was based on a competition between two markets and the producers arrived at their choice based on these market considerations. NABUCCO regrets that the new gas highway to Europe as planned will not be realized for the 10 bcm of gas from the Shah Deniz fields.

The need for diversification remains a challenge for the European market, in particular in the countries of Central and South Eastern Europe. We remain convinced that the NABUCCO route offers the only possibility to answer these needs. NABUCCO is confident of developing opportunities based on alternative gas sources.

NABUCCO thanks its stakeholders for their continuous and consistent support over the last decade. The shareholders of NABUCCO will now discuss the next steps for NABUCCO.

energjia.al, 28.06.2013

SHAH DENIZ CONSORTIUM SELECTS THE TRANS ADRIATIC PIPELINE (TAP) AS EUROPEAN EXPORT PIPELINE

28.06.2013
At a press conference held by the Shah Deniz Consortium (SDC) today in Baku, Azerbaijan, the SDC confirmed that the Trans Adriatic Pipeline has been selected to transport Shah Deniz II gas to Europe.

Kjetil Tungland, Managing Director at TAP, said: “I am very pleased that the selection to transport Shah Deniz II gas to Europe has been made in favour of the TAP pipeline. This is the first and important step in opening up the Southern Gas Corridor and, as we look ahead, the Southern Gas Corridor will have a major role to play in Europe’s energy security and ensuring the diversification of gas supplies to Western and South Eastern European markets.”

“I am deeply impressed with the results TAP has achieved and immensely proud of having been part of the team for the last three years. Over the next few months, we will continue to work hard with the SDC to ensure that they are able to take a successful final investment decision later this year. Finally, I would like to conclude by taking this opportunity to sincerely thank all those who have supported TAP over the past number of years in enabling this historic and geo-strategic project to be selected and to commend the Shah Deniz Consortium for carrying out a fair and transparent selection process.”

The selection of TAP by SDC confirms that TAP is the economically and technically most advanced pipeline project for the transportation of Shah Deniz gas to Europe. The past and continuing support of the European Commission and the various national governments underpins the importance of TAP for the European energy agenda.