Pacts open way for Azeri gas exports

New route: for Azeri gas

Nabucco Gas Pipeline International

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By News wires

 18 January 2013 15:41 GMT

The European Union's energy chief welcomed agreements signed on Friday that pave the way for gas exports from the Shah Deniz 2 field off Azerbaijan to Europe.

"Both Azerbaijan and Turkey have ratified the TANAP (Trans-Anatolian gas pipeline) agreement, thus enabling a dedicated infrastructure for the transport of Azeri gas to the EU," Guenther Oettinger said in a statement.

At the same time, the BP-led group that operates the Shah Deniz field signed a deal in Vienna with the Nabucco pipeline consortium to fund development costs of the planned Nabucco West route, while also gaining an option to acquire a 50% stake in the pipeline.

The TANAP link will take gas from the Shah Deniz 2 gas field in Azerbaijan through Turkey to the edges of Europe, where it…

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