Azerbaijan, Baku, June 2 / Trend , E.Ismayilov/
If perspective gas units, including Absheron, Babak and Umid are put into exploitation by 2015, gas will be enough for Nabucco gas pipeline, the State Oil Company of Azerbaijan Republic (SOCAR) First Vice President on Geology, Geophysics and Development of fields Khoshbakht Yusifzade said on June 2.
"After launching these units, Azerbaijan's gas reserves will reach 4 trillion cubic meters and we will have enough gas for Nabucco," Yusifzade said.
Yusifzade said the Nabucco project requires time from a technical point of view.
The proved gas reserves in Azerbaijan make up 2 trillion cubic meters, Azerbaijan's gas reserves will be roughly 5 trillion cubic meters of gas after launching these units, Yusifzade said.
Yusifzade said the proved oil reserves together with forecasts make up roughly 4 billion tons.
The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU by 2014. Construction of the pipeline is expected to begin in 2011. 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
The Nabucco Gas Pipeline International will invest 30 percent of the project on basis of its share.
The remaining 70 percent will be provided by international institutions.
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