The consortium developing Azerbaijan's giant Shah Deniz II gas field is open to offering some buyers gas supplies fully linked to spot prices, BP's Vice-President for Shah Deniz Development Alastair Cook said on Monday, Reuters reports.
"We're fully open to everything and we do not rule out a 100 percent spot linkage to some buyers," Cook said on the sidelines of an energy conference.
The move by Shah Deniz II, Europe's best hope of diversifying gas supplies from Russia, aims to capture market share from established suppliers by offering cheaper supplies of gas to cash-strapped European utilities.
"We would agree to (spot-indexation) because it's what our clients want...part of what we offer is new supply and diversification away from liquefied natural gas (LNG) and (existing) pipelines," Cook said.
Shah Deniz II is offering to pump 10 billion cubic meters of gas to Europe by 2018.
