Shah Deniz reaches agreement with Italy and Greece

The Trans-Adriatic gas pipeline and Nabucco West projects had a big difference between them in terms of the cost of gas and its delivery, BP vice-president for Shah Deniz field development Al Cook told journalists today, Trend reports.

"TAP and Nabucco had a big commercial difference between them in terms of the cost of gas and its delivery," he said.

According to Cook, it will be possible to rapidly supply gas to the TAP countries 'participants via the Trans-Anatolian and Trans-Adriatic gas pipelines. Work on the Interconnector is underway which will ensure the gas supply to other European countries.

According to him, the negotiations on the purchase of gas are almost complete with Italy and Greece. Besides these countries, negotiations on the construction of the Interconnector Greece-Bulgaria (IGB) are underway with Bulgaria, which also plans to be connected to the TAP.

A decision on getting a share in TAP will be made within a few weeks, Cook said.

The TAP project is designed to transport gas from the Caspian region via Greece and Albania across the Adriatic Sea to the south of Italy and further to Western Europe.

The gas produced within the second phase of development of the Azerbaijani gas condensate field Shah Deniz is regarded as the main source for the project.