All pipelines are necessary for EU given future demands: Schröder
Kazakhstan, Astana, Sept. 25 / Trend K. Konyrova /
By 2020, the EU demand in gas will reach 200 billion cubic meters. The Nord Stream will be able to deliver 55 billion cubic meters of gas, the South stream - 30 billion and Nabucco - 30 billion cubic meters. These figures show that these projects may not compete with each other, said Gerhard Schröder, chairman of the board of shareholders and chairman of Nord Stream AG, which is engaged in the Nord stream gas pipeline project.
"Given the EU future demands, we need all these pipelines," Schröder said.
The Nabucco Gas Pipeline consortium believes the 27 EU countries will be forced to import over 85 percent of gas, when in 2030 the total demand in this fuel will reach 700 billion cubic meters under the domestic production of 100 billion cubic meters per year.
"The difference between demand and production in 27 EU countries will reach 600 billion cubic meters of gas per year by 2030," the consortium's report on development of the Nabucco pipeline project for the third quarter of 2009 said.
The consortium hopes that the Nabucco pipeline will ensure the EU with gas produced in the Caspian region, the Middle East and in Egypt, amounting to 82.68 billion cubic meters.
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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