22 February 2012 17:53 [Source: ICIS news]
LONDON (ICIS)--A final decision on whether the EU-backed Nabucco pipeline project will be selected to carry Azerbaijani gas to ?xml:namespace>
Gas market participants were previously told by the State Oil Company of the Azerbaijan Republic (SOCAR) to expect the matter to be decided by March of this year, but
The 4,000km, €7.9bn ($10.5bn) Nabucco project would transport gas from
However, it was possible that Nabucco could be shortened in length because
SOCAR announced earlier this week that it had decided that an alternative approach to exporting gas from Shah Deniz II would be to send it through the proposed Trans-Adriatic Pipeline (TAP), which would run to
The winning pipeline project would thus be either Nabucco, TAP or a third proposed project, SEEP (South East Europe Pipeline), a venture of Shah Deniz II operator BP, which would run from
Approximately 16bn cubic metres/year (cbm/year) of gas should be sourced from the Shah Deniz II field by the winning bidder, according to SOCAR.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections