European Dependence on Gas Import to Double - Nabucco Gas Pipeline International

Azerbaijan, Baku, 5 March / Trend corr. A.Badalova / The dependence of Europe on gas import will make up 48% to 2010 against 41% in 2005, Reinhard Mitshek, the Austrian company OMV Gas International Vice President said. OMV is taking part in the Nabucco gas pipeline construction project with a 16.67% share.

According to Mitshek, who is also the managing director of the company Nabucco Gas Pipeline International, the dependence of Europe on gas import will increase to 60% to 2015, 68% - to 2020, 71% - to 2025 and 74% - to 2030.

Mitshek said that 27 European Union countries will import 260mln tons of oil in 2010 against 187mln tons of oil in 2005. Hydrocarbon import will comprise 270mln tons of oil in 2015, as well as being an additional need of 50mln tons of oil. The EU will import 266mln tons of oil in a year in 2020, as well as additional 127mln tons of oil. The EU will import 226mln tons of oil per year in 2030, as well as addtional 241mln tons of oil.

The industrial sector of 27 EU countries of will utilize 128mln tons of oil in 2010, electricity sector - 158mln tons of oil, as well as 145mln tons of oil by the indusrtial sector and 209mln tons of oil by the electricity sector in 2020 and 156mln tons of oil by the indusrtial sector and 239mln tons of oil by electricity sector in 2030.

The maximum rate of the flow of the Nabucco gas pipeline is 31bln cu m of gas per year. Mitshek stated that there were plans to complete negotiations to sign the first contracts for gas supply to Nabucco. Half of the rate of the flow of the pipeline will be divided among the partners of Nabucco Gas Pipeline International, and the remaining part will be granted to third countries.

Nabucco will be laid through Turkey (2,000km.), Bulgaria (400km.), Romania (460km.), Hungary (390km.) and Austria (46km.).

Mitshek believes that negotiations on intergovernmental agreements within Nabucco pipeline operations will be complete in 2008. In 2008, Nabucco Gas Pipeline International will start negotiations with International Financial Institutions to draw additional funds to build the pipeline. The effect of the pipeline on the environment will also be considered in 2008.

Construction of the Nabucco gas pipeline will start in 2010 and the pipeline will be put into commission in 2013.

The correspondent can be contacted at: [email protected]

Subscribe to Trend in Google News! Subscribe
Azerbaijan's food import volume down for 10M2021
Azerbaijan's food import volume down for 10M2021
Azerbaijan considers opening Indonesian Chamber of Commerce
Azerbaijan considers opening Indonesian Chamber of Commerce
Azerbaijan increases chemical production volume for 10M2021
Azerbaijan increases chemical production volume for 10M2021
Loading Bars
Policy and Management Consulting Group shares data on Georgia’s economic outlook
Georgia, Qatar discuss favorable investment climate
Price indexes of financial, trade sectors at Uzbek stock exchange fall
Uzbekneftegaz obtains new industrial gas flow from Kulbeshkak field
Uzbek Statistics Committee shares data on imports of meat for 10M2021
Georgia’s economic climate remains stable – PMC
Uzbekistan reveals volume of bank loans allocated to various sectors of economy
Iran, Turkmenistan and Azerbaijan gas swap - win-win deal, says Iranian analyst
FMs of Azerbaijan, Poland hold meeting within OSCE Ministerial Council
Co-op between Turkmenistan, EU to focus on improving business climate till 2027
Azerbaijan's food import volume down for 10M2021
Zones free from animal diseases being created in Azerbaijan’s Karabakh, East Zangazur
Azerbaijan considers opening Indonesian Chamber of Commerce
Azerbaijan increases chemical production volume for 10M2021
Azerbaijan, Turkey begin work on establishing joint university - minister
Azerbaijan’s liberated territories have several types of renewable energy sources– RES agency
Azerbaijani parliament adopts amendment to servicemen insurance law
Azerbaijan may exempt sale of electric cars from VAT
Azerbaijan introduces excise taxes on electronic cigarettes, shisha
Concept for creation of "green energy" zone in Azerbaijan’s liberated territories prepared
Transaction to sell Chinese oil company’s stake in Azerbaijan closed
Output volume at Azerbaijan’s Kursangi, Garabagli fields revealed
Austrian interior minister becomes candidate for country’s next chancellor
Azerbaijan begins geological exploration at Tutkhun gold deposit in Kalbajar
Iran to import hay from Russia
Uzbek home appliance manufacturer Artel joins United Nations Global Compact
Economic stability - framework of Iran`s next year budget
BioNTech CEO confident of quickly adapting vaccine for Omicron
Situation is still fragile in South Caucasus - OSCE Chairperson-in-Office
Azerbaijan to strengthen social protection of population in 2022 – PM
Azerbaijan may exempt import of books and paper from VAT
Iran reveals its non-oil trade in 7 months
Iran aims to build new oil, gas refineries amid growing consumption
Uzbek Central Bank shares data on leading banks in terms of loans
Azerbaijani PM talks on measures to curb price increase
Iran seeks to establish joint banking network with Syria
Azerbaijan to expand agriculture dev’t in Karabakh in 2020 – minister
Demining of water basins in Azerbaijan's liberated Fuzuli, Aghdam underway - ministry
Azerbaijan removes electronic bracelets from 134 convicts within amnesty act
India seeks strong ties with EU, cooperation in transition to clean energy
Dubai's DP World pulls out of Haifa port privatisation bid
Azerbaijani Artillery Units hold live-fire exercises (PHOTO/VIDEO)
Azerbaijan to change state duties on issuing registration plates of road vehicles
Georgian business sector sees average monthly salary increase
Cementing ties with France, UAE places $19 bln order for warplanes, helicopters
Azerbaijan preparing development strategy for Karabakh - Karabakh Revival Fund (PHOTO)
Man of Armenian origin who attacked Azerbaijani soldier neutralized – MoD
Azerbaijan releases 14 prisoners from correctional institution № 16 as part of amnesty act (PHOTO)
Azerbaijan releases 122 prisoners from correctional institution within amnesty act (PHOTO)
Australia calls on Azerbaijan, Armenia to delimit and demarcate state borders
Azerbaijan sees growth of trading via Baku Stock Exchange
Azerbaijan to release 65 female prisoners within act of amnesty
Georgia’s domestic supply of natural gas slightly decreases
Azerbaijan clears almost half of "Araz Valley Economic Zone" Industrial Park of mines - minister
Azerbaijan releases seven prisoners within act of amnesty (PHOTO)
Azernews newspaper selected as media partner of ECO from Azerbaijan (PHOTO)
bp is first company to use flexible approach in management of energy resources during pandemic
Turkey’s fuel exports to Georgia plummet
EU firms in infrastructure sector spent higher share of their investment on energy efficiency
Azerbaijan to strengthen control over allocation of subsidies
Share of EU firms investing in improving energy efficiency falls
Partnered with Azerbaijani banks, VISA actively developing technologies for issuing digital cards
Azerbaijan expands list of goods not covered by VAT refund
Georgia’s electricity exports triple
Azerbaijan’s justice ministry talks number of people released under amnesty act (PHOTO)
Further strengthening of Azerbaijan's army is one of important tasks – PM
Azerbaijan discloses expenses on COVID-19 vaccination
Opening of Zangazur corridor is one of most important issues – PM
Azerbaijani Parliament adopts amendments to Tax Code
Over half of EU firms affected by physical climate change risks
Russia records over 32,900 COVID-19 cases in last 24 hours
Head of Azerbaijan’s State Border Service visits servicemen injured in recent helicopter crash
Average salary in Israel rises 2.9%
EDB may help Uzbekistan to solve problems related to water, energy shortages
Turkey shares cargo traffic data for local Aliaga port in 10M2021
Azerbaijani parliament approves subsistence minimum size for 2022
Azerbaijan’s parliament adopts amount of need criterion for 2022
Azerbaijani Parliament adopts budget of State Social Protection Fund for 2022
Azerbaijan’s justice ministry talks number of people released under amnesty act from correctional institution № 1 (PHOTO)
Kazakhstan reports increase in bilateral trade with Germany
New U.S. COVID-19 international travel testing rules take effect Monday
Azerbaijan’s justice ministry reveals number of persons released under amnesty act (PHOTO)
Value of Azerbaijan's export to Italy grows in 10M2021
Azerbaijan’s parliament adopts state budget for 2022
Georgia shares data on consumer price index, inflation rate
Turkmen Health Ministry opens tender for purchase of medical equipment
Uzbekistan to consider five main directions of development of co-op with EAEU
Azerbaijan’s parliament honors memory of servicemen who died in helicopter crash
Nobel Oil Announces Major Rebrand
Warrant officer of Azerbaijan Army dies in accident
Kazakhstan's monthly food price indicators rising
Georgia releases COVID-19 data for December 3
Snam finalizes acquisition of stake in East Mediterranean Gas Company
Azerbaijani oil prices decrease
Azerbaijan allows 'UK Anglo Asian Mining' to develop Vezhnali deposit in Zangilan district
Kazakh national atomic company's subsidiary opens tender to buy pipes
SOFAZ significantly increases volume of currency sold at auctions
World community should support efforts to normalize Armenia-Azerbaijan relations – FM
Turkey discloses volume of cargo shipments via local ports from Algeria for 10M2021
Flight recorders to help reveal cause of helicopter crash in Azerbaijan – security expert
All news