Turkmenistan's integration in Nabucco is important for Europe: Austrian government
Turkmenistan, Ashgabat, Dec. 19 / Trend H.Hasanov /
Turkmenistan is an important partner in energy security for Austria and the entire European Union. Therefore, it is so important to deepen this cooperation and Turkmenistan's integration in the Nabucco gas pipeline project, Austrian Foreign Minister Michael Spindelegger said in an interview with the Austrian-registered Galkynysh. Turkmenistan-Austria magazine.
"Nabucco could bring success to all its members. The pipeline ensures the reliability in meeting the needs of both producers and consumers," he said." Therefore, I welcome that President Gurbangulu Berdimuhammedov reiterated Turkmenistan's interest in this project."
In turn, Johann Sachs, Director General for Foreign Economic Relations, Federal Ministry of Economy, Family and Youth of Austria, noted that "Turkmenistan has enormous significance for the Nabucco project and leader of the Nabucco consortium OMV."
Nabucco gas pipeline project is worth € 7.9 billion. Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies. Each of participants has equal share to the amount of 16.67 percent.
Construction of gas pipeline is planned to be launched in 2011, the first supplies - in 2014. Maximal capacity of the pipeline will hit 31 billion cubic meters per year.
According to BP, in early 2009 Turkmenistan's proven gas reserves amounted to 7.94 trillion cubic meters, accounting for 4.3 percent of world reserves. In 2008, the country's gas production amounted to 66.1 billion cubic meters, which is higher by 0.7 percent compared to 2007.
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