Azerbaijan and Austria Sign Memorandum on Nabucco Project
Azerbaijan, Baku / corr Trend U.Ismayilova, I.Khalilova / the Austrian Economy Minister voiced his hope in Baku on 20 September that his current visit to Azerbaijan will promote the development of relations in the energy sector.
Martin Bartenstain said in Baku on 20 September that a memorandum on mutual understating on integration of both parties to the Nabucco gas pipeline project will be signed at the Azerbaijani Ministry of Industry and Energy Resources.
"There are plans to attract SOCAR to this project. Additionally Kazakhstan and Turkmenistan will also be drawn into the project," he added.
In the near future there are plans for gas transportation via the Caspian through the Nabucco pipeline.
OMV is the operator of the Nabucco project with 20% share participation. The NABUCCO gas pipeline with a length of 4,000km will ensure gas delivery via the Mediterranean and Caspian gas to Europe through the territory of Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria. Exploitation of the gas pipeline will commence in 2011. The project is estimated at €5bln. NABUCCO is being developed by companies Botas ( Turkey), Bulgargaz ( Bulgaria) and Transgaz ( Romania). "We recognize the partner relations with Russia in the gas sector, but are unwilling to consider alternative opportunities of importing gas from the Caspian region," the minister said.
Barenstein will hold meetings in Baku with Heydar Babayev, the Azerbaijani Minister for Economic Development, Abulfaz Garayev, the Minister for Culture and Tourism, Ogtay Shiraliyev, the Heath Minister and Fizuli Alakbarov, the Minister for Labor and Social Security.
Within the first half-year Azerbaijani exports to Austria totaled $1,063,200 and $18,347,000 for imports.