Azerbaijan, Iraq, Egypt, Turkmenistan are first potential suppliers for Nabucco: Austrian Federal Chancellor
Azerbaijan, Baku, July 25 / Trend , T.Konyayeva/
Azerbaijan, Iraq, Egypt and Turkmenistan are the potential suppliers of the first round of implementation of the Nabucco project, Austrian Federal Chancellor Faymann believes.
"Nabucco was always designed and planned to follow a multi sourcing approach. This means that the pipeline will not be dependent on a single source," Faymann wrote to Trend in an email.
He said If Iran with its important gas resources would join that group in the future depends on a variety of factors. Faymann did not clear up these factors.
The Austrian Federal Chancellor believes the Intergovernmental Agreement for Nabucco signed by Turkey, Bulgaria, Romania, Hungary and Austria in Ankara on July 13 will be a very important step for all involved countries and companies both in terms of political support and legal security.
"As a new corridor for gas supply from the Caspian Region and the Middle East, Nabucco will play a very important role in contributing to energy security and the diversification of gas routes to Europe," Faymann said.
The next steps for Nabucco are the finalization of the Project Support Agreement and the detailed engineering as well as the start of the social and environmental impact assessment following EU-standards, the Federal Chancellor said.
"In parallel, the Nabucco Consortium will start to offer pipeline capacities to the markets. But the European gas traders will buy the gas and they have to decide, where to buy under the most competitive conditions," Faymann said.
As for Jan. 1, 2009, Azerbaijan's proved gas reserves amount to 1.2 trillion cubic meters, Iraq's - 3.17 trillion cubic meters, Egypt's - 2.17 trillion cubic meters and Turkmenistan's - 7.94 trillion cubic meters, BP reported.
The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.67 percent each
Construction of the pipeline is expected to begin in 2011 and the first supplies - in 2014. Its maximum capacity will be 31 billion cubic meters per year. An investment solution on the project will be made in the first quarter of 2010.
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