Azerbaijan, Baku, Sept.14. / Trend A.Badalova /
The Nabucco Gas Pipeline will not have problems with filling, the German company RWE Supply & Trading reported.
When Azerbaijan and Turkmenistan have expressed repeatedly their readiness to diversify gas supplies to Turkey and Europe, the issue on the filling of the Nabucco pipeline is not a problem, the RWE, a shareholder of the Nabucco project, said.
Owning 16.67 percent in the project, Azerbaijan expects to export 12 billion cubic meters of gas, which is expected to receive during the second stage of the development of the Shah-Deniz field, the company added.
According to the company, Turkmenistan has also expressed a desire to supply 10 billion cubic meters for further supplies to Europe.
Azerbaijan, Turkmenistan and Iraq have individually huge gas capacity to meet growing market demand, which in turn will contribute to making an investment decision on the Nabucco project in 2010, the same source said.
"Thus, there is more gas than it is necessary for Nabucco," the RWE stated.
Egypt is expected to have about 2-4 billion cubic meters of export gas per year by 2014.
Regarding the Iranian gas, RWE considers that it is not an essential term for the supply to Germany, Turkey and other European countries through Nabucco.
Currently, Iran is a net importer of gas and the country needs a continued investment. "However, this will not happen until the changes happen in the political environment of the country, "the RWE added.
According to the company, the European gas demand will grow every year.
In 2030, the European gas demand will increase to 680 billion cubic meters, while it production will be reduced in the North Sea and Norway. Thus, Europe will have to import 480 billion cubic meters per year", the German company stated.
The gas reserves of the Caspian region and the Middle East, are estimated at 84 trillion cubic meters, the same source added.
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. The Nabucco Gas Pipeline International will invest 30 percent of the project on basis of its share. The remaining 70 percent will be provided by international institutions.
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