Azerbaijan, Baku, Nov. 10 / Trend /
The Swiss International organization Crans Montana Forum will organize an exceptional high level panel to reflect on some of the main geo-strategic challenges at the top of the European agenda: Nabucco & South Stream: "New Prospects for European Energy Security" in Vienna on Dec.10-12, 2009, Crans Montana Forum reported.
In Vienna, key Businesses in the field of Security, mainly Energy Security, will meet with Government decision-makers and international Organizations to address these key issues such as reliance on foreign sources of energy, the Energy demand, Energy Security policy, Investment projects along with alternative Energy sources, to quote but a few subjects.
The forum in Vienna represents an attempt to find solutions for Europe to prevent future crises and strengthen its competitiveness as well as to increase the cooperation between the European Union, the Mediterranean region, the Black Sea, Central Asia and Africa.
Representatives of governments, international organizations and companies, including OPEC, the Ministry of Petroleum and Mineral Resources of Saudi Arabia, Total, Chevron, the European Investment Bank, BG Group, the Islamic Development Bank, European Bank for Reconstruction and Development, Caspian Investment Centre will attend the event.
The winter 2008/2009 crisis confirmed how weak the European situation is and the vulnerability of Central and South-Eastern European countries as far as their Energy Security is concerned. This experience must be analysed in terms of the necessary diversification of energy supplies, the standards for energy security and safety as well as orientation for the future investments and international networks, the source said.
The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.67 percent each.Construction of the pipeline is expected to begin in 2011 and the first supplies - in 2014. Its maximum capacity will be 31 billion cubic meters per year.
South Stream is a proposed gas pipeline to transport Russian natural gas to Italy through the bottom of Black Sea from Novorossiysk to the Bulgarian port of Varnu. The 900 kilometres (560 mi) long offshore section of South Stream would start from the Beregovaya compressor station at the Russia's Black Sea coast, and would run to Bulgaria's Varna. The pipeline would be built and operated by South Stream AG, a joint company of Gazprom and Eni. The capacity of the project is expected to make up 30 billion cubic metres a year. The maximum depth of laying is 2,000. Total volume of investments in the project is estimated at over $10 billion.
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