Shah Deniz Consortium Likely To Choose SEEP In A Bid To Buy Time For TAP

BMI View: The Shah Deniz consortium has reiterated its commitment to making a final decision on which pipeline route it will back to deliver Azeri gas to Europe by end-Q112. Contenders include Nabucco, AGRI, ITGI, SEEP and TAP. Although all of these projects are still officially in the running, it is BMI's view that the likely outcome will see SEEP approved as an initial project, which could then evolve to become TAP as more volumes come onstream.

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