Europe expects for double increase of Turkish gas market
Azerbaijan, Baku, September 4 / Trend /
Turkish gas market can increase two times despite its further weight will not exceed 10 percent of European one.
"Turkish market is estimated to the amount of 40-70 billion cubic meters of gas but European - 500-700 billion," Nabucco Gas Pipeline Int's report posted at official website of the consortium said. Route of Nabucco pipeline will stretch through Turkey to Europe.
According to Turkish state pipeline Botas Company, demand for gas hits 36 billion cubic meters of gas in Turkey in 2008 compared to 35 billion in 2007.
Nabucco Gas Pipeline consortium thinks that 27 EU countries will be obliged to import more than 85 percent of gas. Joint demand for this kind of fuel will reach 700 billion cubic meters given internal extraction o the amount of 100 billion cubic meters per year by 2030.
"The difference between demand and extraction in 27 EU countries will reach 600 billion cubic meters of gas per year by 2030," the report on development of Nabucco pipeline project for the third quarter of 2009 said.
The consortium hopes that Nabucco gas pipeline will be able to supply EU with up to 82.68 billion cubic meters of gas extracted in the Caspian region, the Middle East and Egypt.
The report states that Trans-Caspian pipeline and Blue Stream from Russia can be potential gas supplies for Nabucco. Kazakh and Turkmen gas can be supplied through Trans-Caspian pipeline.
Iraq, Iran, Syria and Egypt are named among suppliers.
According to Nabucco Gas Pipeline, 16 shippers have already expressed their interest in capacity of Nabucco pipeline.
Nabucco gas pipeline project worth €7.9 billion envisages gas supply from the Caspian region to EU countries. Construction of gas pipeline was scheduled for 2011. The first supplies will be launched in 2014. Maximal capacity of pipeline will hit 31 billion cubic meters per year. Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies. Each of participants has equal shares - 16.67 percent.
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