Germany’s position on Nabucco gas pipeline unclear for Belgium: senator

Oil&Gas Materials 31 March 2009 16:34 (UTC +04:00)

Azerbaijan, Baku, March 31 / Trend , J. Babayeva/

The Belgian Senate will discuss the Nabucco gas pipeline project, Senator Dominique Tilmans said at a press conference in Baku.

"Germany is reportedly against the project. The Belgian Senate hopes to learn the reason why," Tilmans said.

The Belgian Senate wants to inform the world about the importance of the project, he said.

The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Construction of the pipeline is expected to commence in 2010. Its maximum capacity will be 31 billion cubic meters per year. 

Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.

About 30 percent of the project will be invested by Nabucco Gas Pipeline International on the basis of its share. The remaining 70 percent will be provided by international institutions. The rest will be invested by export-credit agencies and commercial banks.

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