Shah Deniz II 'in talks for 50% Nabucco stake'

Talks pipeline: BP-led Shah Deniz II could buy half of Nabucco

Nabucco Gas Pipeline International

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Bill Lehane ,

News Wires

 20 December 2012 15:43 GMT

The Shah Deniz II consortium is in advanced talks on acquiring a 50% non-controlling stake in Nabucco Gas Pipeline International, a partner in the European pipeline project has revealed, according to reports.

Speaking to journalists in Sofia, Bulgarian Energy Holding boss Mikhail Andonov said that the Nabucco partners hoped to seal a deal on the stake when they meet on 10 January.

"We are holding talks almost every day. We expect Shah Deniz to acquire 50% of the shares in the Nabucco consortium," Andonov said, according to Reuters.

The Shah Deniz II mega-project in Azerbaijan is operated by BP with Statoil, Socar, Total, Eni, Lukoil, TPAO and NIOC also involved.

Nabucco's rival, the Trans-Adriatic pipeline (TAP) pipeline, is owned by Statoil, E.ON Ruhrgas and Switzerland's EGL.

The…

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