Nabucco Gas Pipeline International expects realization of supplies from Iran in the long term
Azerbaijan, Baku, April 10 / Trend , A.Badalova/
In the long term, the Nabucco Gas Pipeline International expects realization of supplies from Iran, including LNG terminals, for the Nabucco pipeline, Nabucco gas pipeline consortium managing director Reinhard Mitschek said in an interview with the Bulgarian Dnevnik daily.
Possible are supplies from Iraq and Egypt, he said.
"For their realisation though, political stability is necessary," Mitschek said.
Azerbaijan and Turkmenistan can also take advantage from the project, since good investment conditions will be created in the Caspian region.
The Nabucco project worth €7.9 billion 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.
The major challenge was synchronisation of the legislation frameworks of the participating countries. Negotiations are being carried out with Turkey for synchronisation of its legislation with the Europeans, which delayed the preparation. During the last few months, significant progress has been achieved, Mitschek said.
Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE.
In the conditions of crisis, the gas market is shrinking. At the same time, the forecasts indicate that consumption in Europe in the long term will increase. We have held talks with the EIB and the EBRD, and with credit export agencies.
Do you have any feedback? Contact our journalist at: [email protected]