Germany ready for Nabucco gas
Azerbaijan, Baku, July 20 / Trend, I. Khalilova /
Germany hopes to diversify gas supply sources for the domestic market, head of the Economic Cooperation with CIS Countries Department at the German Economics and Technology Ministry Andreas Neuman said yesterday during her visit to Baku.
Gas consumption volumes in Germany hit about 100 billion cubic meters in 2009, only 15 percent of which were ensured via its own production.
"Germany has its own gas production, but it is insignificant, so we import gas from Russia, which acts as the largest supplier. Supplies from Norway are made through the North and Atlantic seas," Neuman said.
He added that Azerbaijani gas can be imported into Germany through the Nabucco project, which has a maximum design capacity of 31 billion cubic meters of gas per year.
"Gas supplies could be made form Azerbaijan," Neuman said. "German consumers have already stated their demand for gas via the pipeline. This may be a mix of Turkmen and Azerbaijani gas. Germany has a demand for gas passing via Nabucco."
The decision on investments in Nabucco, which will deliver gas from the Caspian region and the Middle East to the EU, is expected in late 2010. The decision will facilitate the beginning of the pipeline's construction in 2011. First gas supplies via the pipeline are planned for 2014.
Nabucco gas pipeline project is worth 7.9 billion euro. Participants are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each participant has an equal 16.67-percent share. Construction pipeline is planned to launch in 2011, with first supplies starting in 2014. The pipeline's top capacity will hit 31 billion cubic meters per year. The Nabucco Gas Pipeline International shareholders will invest 30 percent of the project's total cost. The remaining 70 percent will be paid owing to loans.