Ashgabat to host Turkmen-Austrian business forum

Ashgabat to host Turkmen-Austrian business forum

Turkmenistan, Ashgabat, March 5 / Trend H.Hasanov /

The Turkmen-Austrian business forum is expected to be held in Ashgabat Apr.14, the official Turkmen source said.

The forthcoming Turkmen-Austrian Forum "is designed to facilitate fruitful business contacts with leading foreign and, in particular, European companies," Turkmen President Gurbangulu Berdimuhammedov noted at the last governmental meeting.

According to Director General of Foreign Economic Relations Department of the Federal Ministry of Economics of Austria, which is one of six members of the project, Johann Sachs, Turkmenistan assumes great significance for the Nabucco pipeline project, particularly for the OMV Company (operator of the project).

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 in December 2009.

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.

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