CEO: Nabucco is the most strategic project to open Southern Gas Corridor

Photo: CEO: Nabucco is the most strategic project to open Southern Gas Corridor / Oil&Gas

Azerbaijan, Baku, June 19 / Trend A.Badalova /

The statement of support from the presidents of Nabucco transit countries demonstrates that Nabucco is the most strategic project to open the Southern Gas Corridor, Nabucco Gas Pipeline International GmbH (NIC) CEO Reinhard Mitschek said in a statement, released by NIC on Wednesday.

Nabucco Gas Pipeline International GmbH welcomed in the report the declaration of support from the Presidents of Austria, Bulgaria, Hungary and Romania that was the focus of a letter sent to the President of Azerbaijan Ilham Aliyev last week. The letter was further supported by Turkey, as referenced by Austrian President Heinz Fischer.

"The political support, along with the strong interest in the Nabucco Open Season for capacity booking, shows that there is considerable demand for Caspian gas transported via Nabucco. The support of Turkey, as an important transit partner for Caspian gas to Europe, is a key advantage," Mitschek said.

He also expressed the confidence that the unparalleled market access that Nabucco provides to the countries of Central Europe and also of South Eastern Europe and the Balkans, ensures that gas from Azerbaijani Shah Deniz field will arrive in Europe via Nabucco.

According to the report of Nabucco Gas Pipeline International GmbH, an important advantage of Nabucco, as the Austrian President highlighted at a recent conference, is Nabucco's ability to truly diversify the energy supply for Central and Eastern Europe, which is largely dependent on Russian imports.

The report stressed that Romanian President Traian Basescu also stated that Nabucco will benefit not only the countries in which the pipeline transits, but also other countries including Poland. "Unlike other options, Nabucco will transport Caspian gas into the strategic gas hub in Baumgarten, Austria where it will then benefit the wider European market," the report said.

Nabucco West is a short-cut version of Nabucco project, which provides for construction of a pipeline from the Turkish-Bulgarian border to Austria. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for the project.

Currently the Shah Deniz consortium is considering two options for transporting its gas to the European markets - Nabucco West and TAP (Trans Adriatic Pipeline). The final decision on the European pipeline is expected to be made by late June 2013.

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