Austrian FM: Azerbaijan plays key role in diversification of gas supply sources
Azerbaijan, Baku, June 18 / Trend E.Ostapenko /
The Nabucco project and particularly, Azerbaijan plays a key role in Austria's endeavour to diversify its gas sources and delivery routes, Austrian Federal Minister for European and International Affairs Michael Spindelegger said in an interview with Trend in the run up to his Baku visit scheduled for June 22-24.
"Azerbaijan plays a key role in this project," Spindelegger said. In this context, Austria very much welcomes the agreement reached between Azerbaijan and Turkey as an important step in the right direction, he said.
Spindelegger said the Nabucco project is on track, adding that he expects the concrete construction work to start towards the end of next 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. Azerbaijan and Iraq are considered as the main gas suppliers for the project in the first stage.
Spindelegger said the Austria-Azerbaijan cooperation in the energy sphere holds great promises and can create a win-win situation for both sides.
But the Austrian side is also interested in expanding cooperation in other sectors of the economy, Spindelegger said.
Some Austrian companies are already very active in the construction business, for instance STRABAG (Marriott), Plasser & Theurer (modernization of railway system) and Coophimmelblau (design of the new national bank) and STC (Tourism Complex Shahdag), he added.
The Austrian businesses can also offer interesting know-how in the areas of environmental technology, healthcare and energy, Spindelegger said.
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