Kazakhstan, Astana, Sept. 24 / Trend K. Konyrova, E.Ismayilov /
The European Union is a rich and predictable consumption market and therefore there is no reason not to realize the Nabucco pipeline project, Roland Kobia, Member of Cabinet of European Energy Commissioner, said on Sept. 24 in Astana.
"The EU implies the millions of people and we have high per capita income. We are a rich and predictable consumer market, so I do not see any reason not to realize the Nabucco project," Kobia added.
According to Kobia, Nabucco is a complicated project, but it has political and economical support, and regardless any effect, this project is being developed because all international financial institutions, including the EBRD and the World Bank, as well as many other parties, are interested in the realization of this project.
"I believe the implementation of the project will be much easier than decision making on it, because we have a major advantage - it is the predictability and accountability. As to prospects of the project, I'll give another example. 15 years ago, nobody believed in realization of the Baku-Tbilisi-Ceyhan pipeline, but now the project exists and we transport oil to world markets by this route. Now the same situation is with Nabucco," Kobia said.
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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