Nabucco Gas Pipeline International GmbH welcomes gas agreement signed by Azerbaijan and Turkey
Azerbaijan, Baku, June 7 / Trend A. Badalova /
Nabucco Gas Pipeline International GmbH welcomes the agreement that was signed in Ankara today between Azerbaijan and Turkey defining terms for the transit of gas to Turkey and Europe, Nabucco Gas Pipeline International GmbH said.
"This is a step ahead in the right direction", Reinhard Mitschek, Managing Director stated.
Azerbaijan and Turkey have signed an agreement on a package of gas issues in Istanbul today.
A declaration for the transit of Azerbaijani gas through Turkey and the cost of gas within the first and second stages of development of Azerbaijan gas condensate field Shah Deniz has been signed by Azerbaijani Minister of Industry and Energy Natiq Aliyev and Turkish Minister of Energy and Natural Resources Taner Yildiz with the participation of Azerbaijani President Ilham Aliyev and Turkish Prime Minister Recep Erdogan.
SOCAR President Rovnag Abdullayev (State Oil Company of Azerbaijan) and Botas general manager (Turkish state pipeline company) Fazil Senel signed an agreement on terms and mechanisms for the sale and transit of Azerbaijani gas.
Nabucco gas pipeline project worth €7.9 billion envisages gas supply from the Caspian region and the Middle East to EU countries. 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.