Azerbaijan, Baku, March 18 / Trend /
Romania as a member of the European Union is a supporter of introduction of free-market system, and in this context it supports the Nabucco gas pipeline project and transportation of gas from Azerbaijan through Georgiaç Black Sea to Romania, Romanian Foreign Minister Teodor Bakonsky today at a joint press conference with Azerbaijani Foreign Minister Elmar Mammadyarov in Baku .
He said Romania would like the sides to use a system of free market during implementation of these projects.
Nabucco project envisages the gas transportation from the Caspian region and the Middle East to EU. 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.
Today, a terminal is being constructed to process Azerbaijani gas on Georgia's Black Sea coast (SOCAR owns the Kulevi oil terminal). Talks are underway to transport the energy by ship to Romania or Bulgaria for onward dispatch to the domestic gas pipeline network in Europe. The project is considered in two directions - LNG and CNG. The matter deals with 7-20bln cubic meters of gas.