Nabucco to Make Binding Bid for Shah Deniz Field Soon

BUDAPEST - Nabucco Gas Pipeline International GmbH will submit its binding bid for a natural gas field in Azerbaijan, called Shah Deniz, at the end of April, the company said Friday. 

The company, which intends to transport natural gas from the Bulgarian-Turkish border to Austria via Romania and Hungary, prepared a bid at the end of March which Nabucco's shareholders will approve in the coming weeks, Reinhard Mitschek, managing director of Nabucco, said. 

The Shah Deniz consortium will decide on the winner of the tender in June this year. 

The members of the Nabucco consortium include Austria's OMV and Hungary's MOL Nyrt. German utility RWE AG recently handed over its stake to OMV. 

Copyright (c) 2012 Dow Jones & Company, Inc.

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