NABUCCO: Shah Deniz II Decision a Setback for Planned European Gas Highway
The shareholders of NABUCCO will now discuss the next steps for NABUCCO
NABUCCO Gas Pipeline International GmbH acknowledges the decision by the members of the Shah Deniz II Consortium to select the Trans Adriatic Pipeline as the delivery route for the initial 10 bcm of gas to the Italian market.
The decision was based on a competition between two markets and the producers arrived at their choice based on these market considerations. NABUCCO regrets that the new gas highway to Europe as planned will not be realized for the 10 bcm of gas from the Shah Deniz fields.
The need for diversification remains a challenge for the European market, in particular in the countries of Central and South Eastern Europe. We remain convinced that the NABUCCO route offers the only possibility to answer these needs. NABUCCO is confident of developing opportunities based on alternative gas sources.
NABUCCO thanks its stakeholders for their continuous and consistent support over the last decade. The shareholders of NABUCCO will now discuss the next steps for NABUCCO.
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