Azerbaijan To Evaluate BP's Europe-Bound Gas Pipeline

Azerbaijan To Evaluate BPs Europe-Bound Gas Pipeline
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Τρι, 27 Σεπτεμβρίου 2011 - 18:37
Azerbaijan's state energy company Socar said Tuesday it will evaluate a new proposal by BP PLC (BP) to feed Europe with Caspian natural gas through an alternative pipeline project.
Azerbaijan 's state energy company Socar said Tuesday it will evaluate a new proposal by BP PLC (BP) to feed Europe with Caspian natural gas through an alternative pipeline project.

"While this option is not advanced yet it could be seen as a possible export solution," a Socar spokesman told Dow Jones Newswires. "A fourth potential export option will be evaluated."

A project proposed by BP on Tuesday--called South East Europe Pipeline--would link a major
Azerbaijan gas field to a gas hub in Austria , running from western Turkey across Bulgaria and Romania to Hungary 's border, a similar route to that of the EU-backed Nabucco pipeline.

BP operates
Azerbaijan 's main natural gas field, Shah Deniz.

News of the BP proposal comes just ahead of an Oct. 1 deadline for three competing pipeline projects, including Nabucco, to present a detailed transportation offer to the Shah Deniz consortium. The consortium is expected to make a final decision by the end of the year.

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