European companies launch unofficial discussions on Iran's joining Nabucco: NIGEC director

Azerbaijan, Baku, Oct. 31 / Trend /

The European companies have launched informal discussions with Iran on the country's joining the Nabucco pipeline," Director General of the National Iranian Gas Export Company (NIGEC) Rza Kasaizade said, Mehr reported.

According Kasaizade, Nabucco will be built in two phases. Construction of the first phase is scheduled to be launched in 2011 and the second - in 2014. With the implementation of the second phase of the project, it will be possible to transport 30 billion cubic meters of gas per year through this pipeline.

"If the Nabucco pipeline does not transport 30 billion cubic meters of gas per year, the construction of this pipeline would be economically disadvantageous," Kasaizade said.

Realization of the Nabucco gas pipeline project is impossible without the Iranian gas. Currently, some European companies have begun informal discussions on Iran's participation in Nabucco, director general 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.

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