Bloomberg News

BP to Decide on Bids to Ship Caspian Gas to the EU in ‘Months’

October 03, 2011

Oct. 3 (Bloomberg) -- A BP Plc-led group received bids from three pipeline projects to ship natural gas from its Shah Deniz field in Azerbaijan to Europe and will make a decision in several months.

They include the OMV AG-led Nabucco pipeline, the Interconnector Turkey-Greece-Italy, or ITGI, led by Edison SpA and Depa SA, and the Trans Adriatic Pipeline led by Statoil ASA and Elektrizitaets-Gesellschaft Laufenburg AG, Tamam Bayatli, a BP spokeswoman in the Azeri capital Baku, said today by phone.

A fourth route connecting Turkey to southeast Europe is also being considered, Bayatli said. The idea was floated by London-based BP on Sept. 26, days before the bid deadline expired on Oct. 1. BP and its partners will take “several months” to choose from among the proposals, Bayatli said.

The European Union is looking to Shah Deniz, estimated to contain 1.2 trillion cubic meters of gas, along with other explored and prospective fields in the Caspian region to diversify supply away from Russia and offset dwindling production in the North Sea.

--With assistance from Stephen Bierman in Moscow. Editors: Alex Devine, Randall Hackley

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To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.


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