Inter-governmental agreement on Nabucco to be signed in July: project's representative
Azerbaijan, Baku, June 25 / Trend , A. Badalova/
Inter-governmental agreement on Nabucco will be signed in Astana in July, representative of international projects and Nabucco in OMV Christian Dolezal told Trend .
Earlier the agreement was scheduled to be signed in late June. Turkish Energy and Natural Resources Minister Taner Yildiz said the document will be signed in July.
Dolezal said the agreement will be signed between Nabucco participating countries (Austria, Hungary, Romania, Bulgaria and Turkey) and European Commission.
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.
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.
"Open season" period will begin as soon as inter-governmental agreement is signed and detailed engineering stage will complete.
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