60 billion cu. m. of Caspian gas may be delivered to Europe through Turkey: head of Nabucco project

60 billion cu. m. of Caspian gas may be delivered to Europe through Turkey: head of Nabucco project

Azerbaijan, Baku, Sept. 16 / Trend A.Badalova /

A contract on supply of 1 billion cubic meters of gas through the Nabucco pipeline will be signed by late 2009 or early 2010, Director of the Nabucco pipeline gas international consortium, Reinhard Mitchek, said at an international conference in Baku.

Mitchek did not mention the party or the company, with which will be signed the contract.

Other contracts will be signed in the future, until the volume reaches 31 billion cubic meters.

"We will agree with investors following the signing of the contracts," Mitchek said.

The construction the pipeline is scheduled for 2011 and the first deliveries will start in 2014. "No doubt that we will achieve our goals within the specified period," the director said

According to Mitchek, the Caspian region may provide transportation of 50-60 billion cubic meters of gas via Turkey to Europe. "This is a significant amount not only for implementation of the Nabucco, but also for other projects," Mitchek added.

A final investment decision, which is scheduled for 2010, will give an impetus to the signing of major contracts. Mitchek named Azerbaijan and Iraq as the primary source of gas for the project.

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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