Final agreements with Shah Deniz partners shows Nabucco West’s competitiveness - CEO

Final agreements with Shah Deniz partners shows Nabucco West’s competitiveness - CEO

The conclusion of the agreements between Nabucco and the partners in the Azerbaijani Shah Deniz gas condensate field's development indicates the success of the negotiation process between the sides, the Chief Executive Officer of Nabucco Gas Pipeline International GmbH, Reinhard Mitschek, said in his statement, Trend reports.

Mitschek welcomed the signing of the Cooperation Agreement and the Equity Option and Funding Agreement between Nabucco shareholders and Shah Deniz partners SOCAR, BP, Statoil and Total, and mentioned that the close negotiations between the parties have been being held since the designation in June 2012 of Nabucco West as the Central European delivery option.

"This important achievement is a clear indicator of the potential success of this process and of the commerciality and competitiveness of Nabucco West in offering convincing business opportunities in the promising market area of South East Europe and Central Europe," Mitschek said.

The Cooperation Agreement and the Equity Option and Funding Agreement were signed between the  Nabucco Shareholders and the Shah Deniz partners in Vienna on Friday.

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