28 June 2013 10:21 [Source: ICIS news]
LONDON (ICIS)--The Trans Adriatic Pipeline (TAP) consortium has been awarded the export rights to transport natural gas from Azerbaijan’s Shah Deniz II gas field to Europe, development partners in the field said on Friday.
The award of the rights – announced by Gordon Birrell, BP regional president for Azerbaijan, Georgia and Turkey – came two days after OMV, the main shareholder in a rival pipeline project, Nabucco, said its bid for the natural gas had been rejected.
The Shah Deniz consortium – featuring BP as the main field developer and as a partner, the State Oil Company of the Azerbaijan Republic (SOCAR) and other partners such as Norway’s Statoil – expects gas to start flowing from the field in 2019.
Switzerland-based TAP would collect at least 10bn cubic metres/year of gas from a point on Greece’s eastern border with Turkey, before carrying it to southern Italy over an 870km (540 miles) route across Greece, Albania and the Adriatic Sea, TAP said.
The partners in TAP are Switzerland's Axpo (42.5%), Norway's Statoil (42.5%) and Germany's E.ON (15%).
The Nabucco Gas Pipeline International (NGPI) consortium had proposed a gas route that would stretch to Austria’s Baumgarten gas hub from a point on the border between Turkey and Bulgaria and taking in countries including Serbia and Hungary.
The EU, which believes a ‘southern corridor’ gas export route from the Caspian Sea region could significantly boost Europe’s gas supply diversity, originally named Nabucco as its preferred project but earlier this year changed its stance to neutral.
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