Italian utility Enel SpA (ENEL.MI) is more interested in buying the Caspian natural gas that will be carried by the planned Trans Adriatic Pipeline than in acquiring a stake in the project, the company's chief executive said Tuesday.
Italian utility Enel SpA (ENEL.MI) is more interested in buying the
Caspian natural gas that will be carried by the planned Trans Adriatic Pipeline
than in acquiring a stake in the project, the company's chief executive said
Tuesday.
"I am interested in buying their gas at good conditions and if necessary I
will be participating (with) a stake in TAP, but my priority is to have the
gas," Fulvio Conti told journalists.
His remarks hint at a change in strategy by Enel, as the company has been flirting
for months with the consortium that is planning TAP--which includes Norway's
Statoil ASA, Swiss Axpo and Germany's E.ON AG--over a possible entry into the
shareholding.
The comments come just months ahead of a final choice by Shah Deniz--the consortium
that will provide the gas from an offshore field in
Azerbaijan
--on
whether to export its gas to
Italy
via
TAP, or transport it to
Austria
using
another planned pipeline, Nabucco West.
The Shah Deniz consortium--in which BP PLC (BP), Norwegian state oil company
Statoil ASA (STO) and
Azerbaijan
's
Socar are the main players--is expected to reach an initial decision in June
and a final deal by October.
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