EU strives to remove obstacles to implement Nabucco

Azerbaijan, Baku, Jan. 11 / Trend E. Ostapenko /

The upcoming visit of the European Commission senior officials to Azerbaijan and Turkmenistan this week, has signaled about the EU desire to resolve the issues hampering the rapid implementation of the Nabucco project, German expert Michael Laubsch said.

The upcoming visit underlines the fact that in 2011, the European Commission and the European Union are more than kin to further negotiate the problems of the Nabucco project and of course to solve several problems that Nabucco pipeline can come into reality sooner but not later," he told Trend over phone.

European Commission President Jose Manuel Barroso and EU Energy Commissioner Guenther Oettinger will visit Baku on Jan. 13-14 and Ashgabat on Jan. 15-16. According to the EU representation in Baku, during his visit to Azerbaijan, the head of the European Commission will sign several agreements, which will not be limited to the energy sector.

At a regular press-conference early January, Barroso assured that the Nabucco gas pipeline project will be implemented. The experts have linked his visit to Azerbaijan and Turkmenistan, the potential gas exporting countries, with the advancement in this issue.

This gas pipeline envisages natural gas transportation from the Caspian region to European countries, bypassing Russia through Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria.

The main gas channel, with a length of 3,300 kilometers, will be a continuation of the already-constructed Baku-Tbilisi-Erzurum gas pipeline and is designed for transporting 20-30 billion cubic meters of gas annually. The project is estimated at 7.9 billion euro.

It is difficult to predict if any concrete plan for the future gas supplies of Europe regarding Azerbaijan and Turkmenistan will be signed during the visit of Mr. Barroso and Mr. Ottinger during their stay in Baku and Ashgabat, Laubsch, the President of the Eurasian Transit Group, said. But this visit in early 2011 will prove that the European Union wants to go forward with the Nabucco project.

Striving to create this pipeline is based on the need to diversify energy supplies to the EU market for European gas consumers not to be completely dependent on gas supplies from Russia.

There are some difficulties with launching the project, particularly on gas supplies.

Turkmenistan has periodically declared its readiness to participate in the project and the availability of necessary gas supplies. However, there is no final agreement yet.

Turkmenistan is playing so called "pendulum tactics". It is still not quite sure if there is enough gas resource to participate in Nabucco pipeline or if they are just interested in jeopardizing Russia when they give signals that they would like to cooperate closer with the European Union, he said.

"Nabucco" is worth 7.9 billion euro, with its construction scheduled to start in 2011 and the first supplies to be commissioned in 2014. The project's participants include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE, each having an equal 16.67 percent share. The pipeline's maximum capacity will hit 31 billion cubic meters per year.

Roughly 30 percent of the total project cost will be invested by shareholders of Nabucco Gas Pipeline International, based on equity, while the remaining 70 percent will be paid by loans.

Laubsch said that the European Commission head's visit to Azerbaijan and Turkmenistan, given the presence of large gas reserves in Iraq, said that the EU and the Nabucco consortium in Vienna rely primarily on those countries in gas supplies for the project.

Iraq has large gas reserves, but the unstable political situation in the country gives green light to Azerbaijan and Turkmenistan.

According to BP, Turkmenistan's proven gas reserves as of early 2010 are estimated at 8.1 trillion cubic meters. Azerbaijan's proven gas reserves as of early 2010 are estimated at 1.31 trillion cubic meters.

V. Zhavoronkova contributed to the article.

Iran's parliament discuses idea of withdrawal from Non-Proliferation Treaty
Iran's parliament discuses idea of withdrawal from Non-Proliferation Treaty
Iranian gov't has one-month deadline to suspend implementation of NPT Additional Protocol
Iranian gov't has one-month deadline to suspend implementation of NPT Additional Protocol
Iran hopes for economic revival of Azerbaijan's Nagorno-Karabakh - Vice President Jahangiri
Iran hopes for economic revival of Azerbaijan's Nagorno-Karabakh - Vice President Jahangiri
Loading Bars
Latest
Azerbaijani, Bulgarian FMs discuss bilateral cooperation
Azerbaijani public reveres memory of martyrs of Karabakh conflict (PHOTO)
Electricity Market Concept Design defines gradual retail market opening in Georgia
Import of rice by Azerbaijan up
Baku Metro opens tender to buy tire connections
French parliament loses ability to be serious partner – Turkish Grand National Assembly
Investments in Georgian Poti Free Industrial Zone diversified by regional countries
Iran's next years budget unlikely to improve economy - Head of Parliament Plan and Budget Commission
Azerbaijan raises value of imports from Lithuania in 10M2020
Big foreign IT companies entering Georgia's market
Azerbaijan's Compulsory Insurance Bureau compensating bankrupted insurer's creditors
Georgia sees increase in tangerines export
Azerbaijan shows video footage from Yanshag village of Kalbajar district (VIDEO)
EDB, KazakhExport to jointly insure exports of insulated cars from Kazakhstan
Georgian Chamber of Commerce working on several projects to help SMEs
Azerbaijan's irrigation company to finance power supply of crop areas
Turkmenistan builts new mosque in Afghanistan's Akina town (PHOTO)
Azerbaijani, Latvian FMs exchange views on current situation in region
International organizations aim to finance road construction and repair in Georgia
Georgia sees increase in imports of dairy products
Azerbaijan unveils 10M2020 railway export operations
EDB to fund investment projects in priority sectors of Kazakhstan Development Bank
Azerbaijani FM receives Belarusian ambassador amid completion of his diplomatic mission (PHOTO)
Azerbaijani Foreign Ministry delivers diplomatic note to French ambassador
Global debt to hit $200 trillion - S&P Global
Turkmengas opens tender for purchase of general equipment
Ankara honors memory of Azerbaijan's martyrs (PHOTO)
First Vice-President Mehriban Aliyeva: We will never forget Patriotic War martyrs (PHOTO)
Azerbaijan applies Lithuanian company's hotel management system project
“Ural Airlines” to take citizens of the Russian Federation out of Azerbaijan
Serbia to pay off loan received from Azerbaijan for road construction
Turkish export cargo to China to pass through Port of Baku
Uzbekistan Airways resumes flights to Kazakhstan’s Nur-Sultan
SOCAR Ukraine's aviation fuel imports for November
Surge in COVID-19 cases reported at Kazakhstan's Tengiz oil field
Turkish president supports Azerbaijani counterpart’s recommendation to France
SOCAR expands its activities in Ukraine
Iran – UK trade could improve by money transfer facilities
Turkey records more Uzbek companies in 10M2020
Budget of Georgia Ministry of Regional Development and Infrastructure to be highest
Rostelecom increases capacity of Uzbektelecom's access to Russian segment of Internet
Central Bank of Azerbaijan eyes to raise funds on Bloomberg trading platform
Azerbaijan was rooting for us – National gymnastics team member (PHOTO)
Azerbaijan ramps up goods exports via stationary transport
UAE’s activity on Turkmenistan’s exchange in November
Azerbaijan confirms 4,267 new COVID-19 cases, 2,566 recoveries
Kazakhstan Development Bank to co-op to promote EAEU integration
Karabakh to become ecotourism center of regional importance - Association of Hotels and Restaurants of Azerbaijan
Oil moves up towards $50/bbl after OPEC+ supply compromise
Number of COVID-19 infections in Russia increases by 27,403 in 24 hours
Turkish minister to get acquainted with construction progress of Kars logistics center
International law firms enter Georgian market
EU urges countries to keep COVID in check over festive season
Baku cathedral parishioners honor memory of martyrs of Azerbaijan's Patriotic War (PHOTO)
Bank of Israel intervenes in foreign exchange market
Turkey, Iran commemorating Azerbaijani martyrs of Patriotic War
Uzbekistan’s volume of media market up in 2021
Kazakhstan, Russia agree on steps to expand co-op in geology
Iran-Iraq Joint Trade Commission to be established soon
Karabakh can become leading IT Hub in South Caucasus, says Azerbaijani analyst
Kazakhstan to launch manufacturing of Russian anti-COVID vaccine before year-end
Ganja honors memory of martyrs of Azerbaijan's Patriotic War (PHOTO)
Substantial NATO-Georgia Package updated at meeting of NATO Ministers of Foreign Affairs
Belonging of Nagorno-Karabakh region determined upon relevant UN Security Council’s resolutions - press secretary of Russian president
UNHCR reveals details of joint meeting with Turkmenistan to end statelessness
Kazakhstan ups trade with Turkey for 10M2020
EBRD reduces its equity stake in Georgian TBC Bank
TAP to hold market test to double capacity
Second Karabakh war - brightest page in national memory of Azerbaijan, says Russian cleric
Azerbaijan presents musical composition commemorating martyrs of Patriotic War (VIDEO)
Amnesty International unveils photo proof of Armenian-inflicted damage in liberated Kalbajar (PHOTO)
Iran to increase revenue by development of gas transmission
Energy Commission of Iranian Chamber of Commerce discusses oil revenue forecast
9 Azerbaijani gymnasts return from European Championships with medals - head coach
Ukraine to continue supporting Azerbaijan's territorial integrity
Mountain Jewish Community honors memory of martyrs of Azerbaijan’s Patriotic War (PHOTO)
UNHCR talks cooperation with Turkmenistan on fight against statelessness
ENI to support activities of center to develop oil&gas engineering in Kazakhstan
Beeline mobile operator working in Khankendi city - fake news, Russian web portal says
Azerbaijan Banks Association to develop digital payment ecosystem
Trade takes up largest share in total turnover of Georgian business sector
Uzbekistan considers production of Bentley electric vehicles
Iran's Minister of Petroleum discusses OPEC+ meetings
Kazakhstan more than doubles petroleum oil exports to Croatia
Caspian Drilling Company updates on Satti rig upgrade
Gold price in Azerbaijan up
Kazakhstan, Austria trade turnover down year-on-year
Turkmenistan exploring possibility of producing cement from local raw materials
Turkmenistan working to maintain technical condition of gas pipelines
OPEC+ decision: Oil glut could be hitting the market soon
Georgia hits record high COVID-19 daily cases
Azerbaijan Banks Association implementing new banking services project
Georgia plans to subsidize the interest on leasing for event companies
Georgian business sector shows downward trend in production
German industrial orders rise more than expected in October
Azerbaijan launches joint ATM network of commercial banks
Clients of closed banks in Azerbaijan continue receiving compensations
Kazakhstan doubles exports to Croatia despite COVID-19 pandemic
Any threats against Azerbaijan's territorial integrity must be averted, Erdogan tells Rouhani
Azerbaijan commemorates bright memory of martyrs with minute of silence (VIDEO)
All news