Bloomberg News

Edison, Depa Submit Gas Transit Bid to BP-Led Caspian Project

October 03, 2011

Oct. 3 (Bloomberg) -- Edison SpA and Greek natural-gas supply company Depa SA submitted a bid to export fuel from the BP Plc-led Shah Deniz-2 deposit in Azerbaijan, potentially putting them in competition with the rival Nabucco project.

The joint bid will supply the planned Interconnection Turkey Greece Italy, or ITGI, pipeline project designed to bring Azeri gas from the Caspian region to Europe, Athens-based Depa said today in an e-mailed statement.

Azerbaijan will be able to supply 10 billion cubic meters of gas a year to Europe when the offshore deposit comes on stream in 2017, Elshad Nasirov, vice president of State Oil Co. of Azerbaijan, the national oil company, said last month.

--Editors: Stephen Cunningham, Alastair Reed.

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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