Nabucco to submit binding bid for Shah Deniz field

4/17/2013

Nabucco to submit binding bid for Shah Deniz field

BY VERONIKA GULYAS

BUDAPEST -- Nabucco Gas Pipeline International will submit its binding bid for the natural gas coming from the Shah Deniz field in Azerbaijan, at the end of April, the company said.

The company, which intends to transport natural gas from the Bulgarian-Turkish border to Austria via Romania and Hungary, prepared a bid at the end of March which Nabucco's shareholders will approve in the coming weeks, Reinhard Mitschek, MD of Nabucco, said.

The Shah Deniz consortium will decide on the winner of the tender in June this year.

The members of the Nabucco consortium include OMV and MOL. RWE recently handed over its stake to OMV.

The Nabucco consortium is competing against the Trans-Adriatic pipeline project for the gas.

Dow Jones Newswires

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