Azerbaijan may supply Nabucco with around 7 billion cubic meters of natural gas: SOCAR official
Azerbaijan, Baku, Oct.3. / Trend /
Azerbaijan can supply around 7 billion cubic meters of natural gas to be transported through Nabucco, when and if the pipeline becomes operational, Deputy vice-president of SOCAR (State Oil Company of Azerbaijan), Vitaliy Baylarbayov said at the Black Sea Energy and Economic Forum in Bucharest, Mediafax wrote.
Baylarbayov said that the company hasn't signed an agreement with the Nabucco consortium, but it has the capacity to deliver around 7 billion bcm a year, or around a quarter of the pipeline's annual initial capacity.
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.