Nabucco Consortium confident in timely implementation of project

Azerbaijan, Baku, Aug.9 / Trend, A.Badalova /

Nabucco gas pipeline project is the most viable transportation route from the Caspian basin, both logistically and economically, Nabucco Gas Pipeline International GmbH said with reference to the company's Managing Director Reinhard Mitschek.

He said the Caspian Region and Middle East have some of the world's largest gas reserves, which the producers are very keen to export to Europe.

According to Mitschek, the construction of the Nabucco pipeline infrastructure has been aligned with the expected timetable from producers' side.

Gas to be produced within the second phase of development of the Azerbaijani "Shah Deniz" field is considered as the main gas source for the Nabucco project in the first phase of its implementation. Azerbaijan intends to export 10 billion cubic meters of gas produced within the "Shah Deniz - 2" project to Europe. By late 2011 partners on the development of the field are expected to take a decision on the preferred gas transportation route.

"The Shah Deniz II consortium in Azerbaijan announced in Q1 2011 that first gas would be produced for export in 2017," Mitschek said.

He said the Nabucco project shareholders are currently undertaking the negotiations with the gas suppliers and progress is being made.

"Therefore we are confident that the construction will start in 2013 and the first gas will flow in 2017. The Nabucco project continues to be driven by the needs of its customers," Mitschek added.

The pipeline with a length of 3,900 km is designed to transport gas from the Caspian region and the Middle East to the EU countries.

The pipeline's maximum capacity will hit 31 billion cubic meters per year. Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies.