Nabucco Says Has ‘A Lot to Negotiate’ Over Shah Deniz Accord
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The Nabucco natural gas pipeline and operators of the Shah Deniz II, Azerbaijan’s biggest oilfield, have “a lot to negotiate” before signing a joint development agreement, Nabucco spokesman Christian Dolezal said.
The Shah Deniz partners, which include BP Plc, Statoil ASA, Total SA and Socar, picked the Nabucco West pipeline in June as a potential export route to Europe and agreed in principle with Nabucco shareholders in Sofia today on joint funding development costs against a 50 percent equity option in the pipeline project. The agreement will be signed in Vienna soon, Dolezal said in an interview.