Azerbaijan, Baku, Jan. 15 / Trend , A.Badalova/ "The Nabucco gas pipeline can help create a more robust gas market in Europe," Managing Director of Nabucco Gas Pipeline International GmbH Reinhard Mitschek said in an interview with BBC, posted on the official website of the Nabucco Gas Pipeline International.
We expect the pipeline to meet the requirements in the future and to establish an even more robust market in Europe, he said.
Speaking on the impact of the global financial crisis on the project, Mitschek said that there would be an impact of course based on the situation of the financial markets and commodity markets.
"What we see now is that the steel price goes down and that is a positive effect to the project," he said.
"Financial institutions are going for loan agreements more with infrastructure companies, long term sustainable projects, more than risky investments, and therefore the actual situation of the markets is more or less a benefit for projects like Nabucco," Mitschek said.
"Now the group of the shareholders are united and fully committed to NABUCCO," he said.
"It is clear that in a liberalised and diversified European gas market, companies work on several projects in several markets, but that does not affect negatively the commitment for NABUCCO," he said.
"We are far advanced with the wording of the intergovernmental agreement which is now under discussion between the European Commission and the governments involved. And we expect a signing ceremony for the intergovernmental agreement in the first quarter of 2009," said Mitschek.