Nabucco shareholders to discuss further steps
By Gulgiz Dadashova
Nabucco Gas Pipeline International GmbH acknowledges the decision by the members of the Shah Deniz Consortium to select the Trans Adriatic Pipeline as the delivery route for the initial 10 bcm of gas to the Italian market.
The TAP is selected by the Shah Deniz Consortium engaged in the development of Azerbaijani gas condensate field Shah Deniz in the Caspian Sea ,as a route for transporting its gas to European markets on Friday.
The decision was based on a competition between two markets and the producers arrived at their choice based on these market considerations.
Nabucco announced that it 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," the statement reads.
Nabucco reported that its shareholders will now discuss the next steps.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!