Gas Cos. Near Deal For Half Of $10.3B Nabucco Pipeline

Law360, New York (January 10, 2013, 5:01 PM EST) -- An energy company consortium cultivating a landmark Caspian Sea gas field on Thursday preliminarily agreed to pay for the development of the proposed $10.3 billion Nabucco West pipeline, set to carry their gas to Europe, in exchange for a 50 percent stake in the project.

Under an agreement in principle, the Shah Deniz gas companies – the State Oil Company of Azerbaijan Republic, BP PLC, Statoil ASA and Total SA – would share in startup costs and split ownership of the project with its existing owners,...
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