Nabucco’s cost still under review
Azerbaijan, Baku, Oct. 14 / Trend A. Badalova /
Nabucco gas pipeline project's cost is currently under review, project's official representative Christian Dolezal told Trend on Friday.
"The CAPEX figure of the project is 7.9 billion euro and the figure is currently under review," he said.
Nabucco gas pipeline project envisages gas supplies from the Caspian region and the Middle East to the EU countries.
Reuters reported referring to the EU's energy commissioner Guenther Oettinger that the project will cost 10 to 14 billion euros.
Earlier Dolezal told Trend that the investment costs of 7.9 billion euro are based on the feasibility study. The exact cost of the project will be set after the completion of the detailed engineering.
The project has entered the technical detail engineering stage in May 2009.
Five local sub-contractors were determined in the five transit countries. The British Penspen is preparing a detailed technical plan to build the Nabucco pipeline.
Early this year the Managing Director of Nabucco Gas Pipeline International Reinhard Mitschek said that the estimated costs of the pipeline are likely to be revised upwards to reflect the increased length.
Another factor which would lead to change in the project's cost can be commodity price dynamics.
The pipeline's construction was scheduled for 2013, while the first gas supplies via the pipeline were expected in 2017. Nabucco pipeline's maximum capacity will hit 31 billion cubic meters per year.
The current participants of Nabucco 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.