First gas contracts on Nabucco to be signed in 2010: RWE

First gas contracts on Nabucco to be signed in 2010:  RWE

Azerbaijan, Baku, Oct. 15 / Trend A.Badalova E.Ismayilov /

The first gas supply contracts on the Nabucco project between shippers and the gas supply countries from the Caspian region will be signed in the first half of 2010, Jeremy Ellis Head of Business Development at RWE Gas Midstream said.

"The "open season" process for accessing capacity will commence in the first half of 2010. During the open season, Nabucco Pipeline International will be offering 50 percent of the total capacity of Nabucco," Ellis wrote to Trend via e-mail.

According to Ellis, the capacity of the pipeline will be offered on a non-discriminatory and transparent manner.

The framework and requirements for marketing this capacity is agreed upon and set out in the IGA (Intergovernmental Agreement) signed in Ankara on July 13.

According to Ellis RWE will definitely be shipping gas through Nabucco.

The amount of transportation capacity that RWE will have in Nabucco will depend on the outcome of the open season process and the amount of long terms gas supplies secured, Ellis 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.

Do you have any feedback? Contact our journalist at: capital@trend.az

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