Nabucco’s rapid implementation steps to be discussed soon

Oil&Gas Materials 23 January 2012 17:08 (UTC +04:00)

Azerbaijan, Baku, Jan. 23 / Trend A. Badalova /

An expert level meeting will be held in a very short time to discuss the measures of Nabucco gas pipeline project rapid implementation. This decision was made at the recent ministerial meeting of Romania, Bulgaria, Hungary and Austria, the statement of Romanian Ministry of Economy, Trade and Business Environment says.

The representatives from Romania, Hungary and Bulgaria discussed last week in Vienna the current state and the further steps in the realization of Nabucco project, which is designed to transport gas from the Caspian region and Middle East to the European countries. The meeting was attended by the Bulgarian minister of Economy, Energy and Tourism Traycho Traykov, Romanian minister of Economy, Trade and Business Environment Ion Ariton, Austrian Minister of Economics, Reinhold Mitterlehne and Deputy State Secretary at the Hungarian National Development Ministry Pal Kovacs.

The decision was made at the meeting to hold an expert level meeting in a very short time to find a solution for cost effective and rapid implementation of Nabucco project.

Nabucco gas pipeline is one of the proposed projects within the Southern gas Corridor.

Construction of the Nabucco project is planned to start in 2013 and the first supplies are scheduled for 2017. The total length of the pipeline is 3,900 kilometers with a maximum capacity of 31 billion cubic meters per year. The project's partners include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and the German RWE.

Gas which will be produced during the second stage of Shah Deniz field development is considered as the main source for Nabucco project.

The current estimated cost of the project stands at7.9 billion euros. Currently these figures are review. The exact cost of the project will be set after the completion of the detailed engineering.