Azerbaijan, Baku /corr. Trend A.Badalova / The visit of the Minister of Economy and Transport of Hungary, Yanosh Coca, to Baku on 22 November is aimed at discussing the transportation of the Azerbaijani gas to Europe and expansion of commercial relations.
"Today rapid economic development is observed in Azerbaijan. I think that our co-operation is important in the context of investments," the Minister said.
Together with the Minister, the representatives of the Hungarian oil and gas company MOL arrived in Baku. This company participates in the realization of Nabucco project.
Hungarian Minister's visit to Baku takes place at the invitation of Industry and Energy Minister of Azerbaijan, Natig Aliyev.
"We support Nabucco project and want the Azerbaijani gas to be delivered to Europe soon," he said. Nabucco will transport gas from Azerbaijan and Central Asia to the EU. The gas from Central Asia to Nabucco may be delivered via planned Tran-Caspian pipeline.
OMV is the operator of Nabucco with a 20% share. With a length of 4,000km, the Nabucco gas pipeline will ensure gas delivery via the Mediterranean and Caspian Sea to Europe via Azerbaijan, Georgia, Tbilisi, Turkey, Bulgaria, Hungary, Romania, and Austria. Operation of the gas pipeline will commence in 2011. The project is estimated at €5bln. Nabucco is developed by the companies of OMV, MOL ( Hungary), Botas ( Turkey), Bulgargaz ( Bulgaria) and Transgaz ( Romania).
After Azerbaijan, Yanosh Coca will leave for Ashgabat to become familiarized with the position of Turkmenistan on its readiness to transport hydrocarbons to Europe via Caspian.