Azerbaijan, Baku, 14 October/ Trend / About 30bln cu m of gas transported from the Caspian region and Near East will be required annually to meet gas demand of Europe by 2020.
"From the standpoint of geography, Nabucco is the most competitive for gas deliveries to both Central and East Europe and Balkans," information posted on Nabucco gas pipeline company website said.
The first phase of construction of Nabucco, which will start in 2010, includes laying a pipeline between Turkey and Austria with a length of 2,000km. Later, the current pipelines on Turkey-Georgia and Turkey-Iran borders will be operated in two years. It will enable to put pipeline with capacity of 8bln cu m of gas a year, into operation in 2013.
The second phase of construction of Nabucco will start by the end of 2014. It includes construction a section in the Turkish-Georgiana and Turkish-Iran borders. Additional compressor stations will be built to increase capacity to 31bln cu m of gas a year within the second phase of construction.
Nabucco gas pipeline company suggests 50% of capacity will be distributed among the stockholders of consortium. The remaining part will be introduced to third countries.
The Nabucco project consists of a 3,300 kilometre pipeline, with a planned maximum capacity of 31 billion cubic meters per year. It will help ensure the provision of gas to Europe from producers in the Middle East and Caspian region.
The shareholders of Nabucco include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each of the participants holds equal shares - 16.67% each. Nabucco project worth $12.4bln is expected to deliver gas from Azerbaijan and Central Asia to EU by 2013. The large energy company Gaz de France is also interested in obtaining part of the gas transported via this gas pipeline.