Publication

This paper examines the potential of a new South East Europe Pipeline (SEEP), first proposed by BP in late September 2011, to transpor Azeri gas to European markets. It compares the alternative proposals - Nabucco, TAP and ITGI - and argues that the SEEP has the greatest chance of being completed. This is because it offers the greatest economic and political value for the Shah Deniz Consortium, Azerbaijan, Turkey and Europe, while posing the smallest challenge to Russia. In sum, it presents the greatest value for the greatest number of actors.