Azerbaijan, Baku, Oct. 10 / Trend A.Badalova /
Nabucco West is in close and frequent negotiations with Shah Deniz consortium on a cooperation agreement, the Managing Director of the Nabucco Gas Pipeline International GmbH, Reinhard Mitschek said in interview with Trend in Baku.
Mitschek noted that this agreement foresees an equity participation of certain Shah Deniz partners in Nabucco West.
"We have already opened a data room some weeks ago. Shah Deniz consortium started its due diligence process," he said.
Mitschek also stressed that the negotiations on cooperation agreement are in very promising stage and he hopes to conclude it very soon.
In June the consortium of Azerbaijani Shah Deniz gas field development selected Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe.
Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from Turkish-Bulgarian border to Austria.
The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ, and each of them holds 16.67-percent share.
According to Mitschek, Nabucco consortium is also in ongoing negotiations with Germany's Bayerngas.
He said that the company is in a due diligence process now and results are expected to be very soon.
"In summer time it was a short brake because executive board in the company changed. In the beginning of autumn Bayerngas came back to us with the wish to continue talks. They have an interest to join," Mitsche said, adding that the company is an interesting player for the project.