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Pipeline projects aimed at diversifying gas supplies to Europe should be merged

Oil&Gas Materials 26 January 2011 18:09
Europe must unite three competing gas pipeline projects in order to diversify supply from Russia, Dow Jones reported on Wednesday, citing the words of Joschka Fischer, head of the Joschka Fischer & Company, which acts as PR-consultant for the Nabucco gas pipeline construction project.
Pipeline projects aimed at diversifying gas supplies to Europe should be merged

Azerbaijan, Baku, Jan. 26 /Trend, E.Ismayilov/

Europe must unite three competing gas pipeline projects in order to diversify supply from Russia, Dow Jones reported on Wednesday, citing the words of Joschka Fischer, head of the Joschka Fischer & Company, which acts as PR-consultant for the Nabucco gas pipeline construction project.

According to him, Nabucco and competing pipeline projects will gain benefits from uniting into one project.

"We must try to integrate several European projects in one. Brussels also has a strong desire in this regard, and I think it's doable," said Fischer.  

Also referring to negotiations between the partners of the Nabucco and potential suppliers, Fischer said that the fate of the EU-backed Nabucco gas pipeline will likely be determined next month.  

The Southern Corridor, designed to diversify gas deliveries to Europe, includes the Nabucco gas pipeline, Trans Adriatic Pipeline (TAP), White Stream, and ITGI (Italy-Turkey-Greece Interconnector). The idea of combining several pipeline projects, such as the merger of gas pipelines Nabucco and ITGI, has been raised for several times.

Nabucco is worth 7.9 billion euro, with its construction scheduled to start in 2012 and the first supplies to be commissioned in 2015. 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.

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