Romgaz to negotiate with Iran on gas supply for Nabucco
Azerbaijan, Baku, June 9 / Trend , A. Badalova/
Romgaz, Romanian national company, will hold talks with officials from Azerbaijan, Kazakhstan and Iran in relation to the conclusion of agreements for gas supply to Nabucco gas pipeline, Nine O'Clock quoted deputy general manager of the gas producer Lucian Stancu as saying.
"The last talks took place with Turkmenistan. I hope we will resume talks this year with Azerbaijan", Stancu said.
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. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.
Earlier last week U.S. representatives said Iran's participation in Nabucco is possible only after ties with Washington are normalized.
Iran has the largest gas reserves worldwide second only to Russia. Iran's Oil Ministry estimates natural gas reserves at 26 trillion cubic meters which makes up 18 percent of world gas reserves.