Bloomberg News

Nabucco Outbids SEEP for Shah Deniz Gas, Nefte Compass Reports

June 27, 2012

BP Plc (BP/) and its partners in the Shah Deniz gas field in the Caspian Sea selected the Nabucco West pipeline over the BP-backed South-East Europe Pipeline, or SEEP, in a second round to bring natural gas from Azerbaijan to Europe, Nefte Compass reported, citing unidentified people in the Caspian gas industry.

Nabucco West will now compete with the Trans-Adriatic Pipeline, known as TAP, for rights to export Shah Deniz gas, with the partners aiming to make the final choice by mid-2013, according to the industry newsletter.

Shah Deniz is being developed by BP, Statoil ASA (STL), State Oil Co. of Azerbaijan, Total SA (FP), OAO Lukoil, Naftiran Intertrade Co. and Turkiye Petrolleri AO.

Nabucco is a joint venture of RWE AG (RWE), OMV AG (OMV), Mol Nyrt. (MOL), Bulgargaz EAD, Transgaz SA and Boru Hatlari ile Petrol Tasima AS. TAP is planned by EGL AG, Statoil and E.ON Ruhrgas AG.

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net


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