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Czech Industry Minister: Nabucco project is priority for Europe

Politics Materials 19 February 2009 20:07 (UTC +04:00)

Belgium, Brussels, Feb. 19 / Trend , A.Ismayilova /

The Nabucco gas pipeline is the priority for the European Union, Czech Industry and Trade Minister Martin Riman said in Brussels on Feb. 19.

"No one expects the project to be realized within one, two or three years. Nabucco is a long-term priority for EU," Riman said after the meeting with the EU Transport, Telecommunications and Energy Council.

The Nabucco project worth $12.4 billion will deliver Azerbaijani and Central Asian gas to the EU. Construction of the pipeline is expected to commence in 2010. Its maximum capacity will be 31 billion cubic meters per year. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.

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