Azerbaijan, Baku, March 9/ Trend , A. Badalova /
The German company RWE Supply & Trading discusses with SOCAR (State Oil Company of Azerbaijan) the possible supplies of gas extracted in the second phase of the development of the offshore field Shah-Deniz via Nabucco pipeline. RWE Supply & Trading company's report says.
According to RWE, by 2014-2015, Azerbaijan will have 16 billion cubic meters of gas for export through the development of the second stage of the development of the Shah Deniz field.
Along with Azerbaijan, Turkmenistan and Iraq were discussed as potential suppliers of gas for the Nabucco pipeline project. In the first quarter of 2010 RWE is expected to sign long-term contract with Turkmenistan to supply 10 billion cubic meters of gas per year. For the transportation of Turkmen gas to Europe it is necessary to build the Trans-Caspian pipeline.
The future of the Nabucco project depends on the ability of the EU to conclude a strategic agreement with Turkmenistan on long-term supplies through this pipeline. According to the source, the EU will take a decision on starting construction of the Nabucco gas pipeline or the final closing of the project at a special conference in Brussels, by the end of 2010, ITAR-TASS, quoted a diplomatic source at the European Commission.
Gas market of five transit countries of designed Nabucco pipeline RWE is estimated at 72 billion cubic meters a year. In particular, the gas market of transit Turkey is estimated at 33.5 billion cubic meters, Bulgaria - 3,5 billion cubic meters, Romania - 13.7 billion cubic meters, Hungary - 12.7 billion cubic meters, Austria - at 8.9 billion cubic meters a year.
The total amount of the gas market of 11 countries bordering upon the route of the Nabucco, is estimated at 240 billion cubic meters per year.
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. Nabucco Gas Pipeline International shareholders will invest 30 percent of total cost of the project, the rest 70 percent will be paid owing to loans.