A significant delay is expected in the sale of natural gas from the Shah Deniz II field in Azerbaijan being developed by a group of major energy companies, people familiar with the situation said.
A significant delay is expected in the sale of natural gas from the Shah
Deniz II field in Azerbaijan being developed by a group of major energy
companies, people familiar with the situation said.
The delay--which could be for six months--could help the sponsors of Nabucco,
one of the pipelines bidding to carry that gas to
Europe
, as
it gives them more time to find a second source of gas and make the project
viable.
Nabucco is much bigger than its direct competitors, and the Azerbaijani gas
would only fill a third of it.
The consortium of companies--including oil majors like BP PLC (BP) and Total SA
(TOT)--working on Shah Deniz II, an offshore in the Caspian basin, was aiming
at finding a buyer for 10 billion cubic meters of gas in the first half of this
year. However, talks with potential buyers are more complex than expected and
are going to drag the process until later this year, the people said.
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