The Shah Deniz II consortium grouping together BP, Statoil, Eni, Lukoil, TPAO and NIOC, has agreed in principle to take a 50% non-controlling stake in the Nabucco gas pipeline project, if this pipeline project is selected to export gas from Azerbaijan to Europe.
Nabucco West is a 1,300 km pipeline aimed at delivering up to 16 bcm/year gas from the Caspian Sea to Austria through Turkey, Bulgaria, Romania and Hungary. The project, which is lagging behind Gazprom's South Stream project, also faces competition from the 502 km Trans-Adriatic Pipeline (TAP), which would link Turkey to Italy through Greece and Albania. In September 2012, Shah Deniz II signed an agreement with the TAP consortium.
A decision on the export route is expected by 30 June 2013.
Source: Nabucco