Minister: Egypt considers possibility of transporting its gas on Nabucco through Pan-Arab pipeline
Azerbaijan, Baku, July 8 / Trend U.Sadikhova /
Egypt considers the possibility of connecting the Pan-Arab gas pipeline to the Nabucco pipeline to supply its own gas via this route, Egyptian Petroleum Minister Amin Sameh Samir Fahmy told Trend in Baku today.
Egypt held talks with the Nabucco project shareholders and agreed to coordinate efforts. "We are one of the coordinators of this project" Fahmy said.
Egypt is one of the participants of the Pan-Arab gas pipeline, together with Lebanon, Jordan and Syria.
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.
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