The United States, June 24 / Trend , N. Bogdanova/ Russia has no ground to get concerned with Nabucco gas pipeline project, U.S. Department of State Special Envoy on Eurasian Energy Richard Morningstar said.
"The point of view of the Obama administration is that both North Stream and South Stream projects must operate simultaneously. Therefore our cooperation with Russia will focus on this area as well," Morningstar said at a news conference in the U.S.-Azerbaijan Chamber of Commerce.
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.
Construction of the Nabucco gas pipeline project is expected to begin in 2011. The first deliveries will take place in 2014. It will have capacity of 31 billion cubic meters per year.
About 30 percent of the project will be invested by Nabucco Gas Pipeline International on 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.
Morningstar said the U.S. expects Azerbaijan to complete work on Nabucco and Trans-Caspian gas pipeline projects soon. "At this stage we are working to intensify cooperation with Azerbaijan in this area," the American diplomat said.
He said the U.S. is interested in all countries' benefiting from regional projects.
Nabucco will provide only 5 percent of Europe's gas needs, Morningstar said.
He said Russia must not get concerned with the U.S. support for Nabucco, but projects implemented by China in Turkmenistan.
"Our interest in achieving energy diversification does not exclude cooperation with Russia. Because these are our mutual interests," he said.