The Shah Deniz consortium has started evaluating bidding transportation offers from two rival gas pipeline projects, the EU-promoted Nabucco and the Trans Adriatic Pipeline (TAP), to carry gas from the giant offshore Shah Deniz II field in the Caspian Sea (Azerbaijan) to Europe. The Shah Deniz consortium, led by BP and including Statoil and SOCAR, will take a final investment decision on its project by the end of 2013 and plans to reach a decision on the export pipeline by the end of June 2013. Investment in the gas field and export pipelines is estimated at around US$40bn, including US$25bn for the upstream portion of the project.
The TAP project would connect the Turkish gas transmission grid to Greece, Albania and Italy, and would transport 10 bcm/year of gas (up to 20 bcm/year later). It is promoted by Statoil (42.5%), Axpo (Switzerland, 42.5%) and E.ON (15%).
The Nabucco project would transport 10 bcm/year (up to 23 bcm/year later) through Bulgaria, Romania, Hungary and Austria. It is promoted by OMV (Austria, 33.33%), the BEH (Bulgaria), Botas (Turkey), FGSZ-MOL (Hungary) and Transgaz (Romania) with 16.67% each.