Turkish Deputy Energy Minister: Nabucco is priority for Turkey

Azerbaijan, Baku, June 2 / Trend, N. Ismayilova /

Nabucco Pipeline project is a priority for Turkey. This project is envisaged as one of the most important parts of a strategy on diversification of gas supplies to Europe, Deputy Minister of Energy and Natural Resources of Turkey Yusuf Yazar said at the 17th  International Conference "Caspian Oil and Gas", held in Baku.

"Turkey wants to play a major constructive role in the transportation of gas from the Caspian region to Europe. We will take all measures to ensure the realization of this project," Yazar said.

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.