German Bayerngas still interested in Nabucco project

Azerbaijan, Baku, April 25 / Trend A.Badalova/

Germany's Bayerngas still intends to join the Nabucco gas pipeline project as a shareholder, Reuters reported with the reference to the company's spokesman.

He said the company's interest in Nabucco still persists even after Hungarian MOL has cast doubt over the project.

"We continue to be in talks with the Nabucco consortium," he said.

He added Bayerngas was aiming for a decision this year and a precondition was that the project was economically viable.

A source in Nabucco Gas Pipeline International told Trend that Bayerngas is currently negotiating with the Nabucco consortium to become the seventh shareholder. According to the source, the project has been progressing successfully.

Bayerngas GmbH is Germany's largest municipal procurement company of natural gas. Bayerngas purchases natural gas for its customers - public utility companies, regional suppliers and industrial customers - via the European procurement market (2010: approximately 6bcm). Bayerngas is 100 % owned by its customers and, at the same time, active on all value added levels: from gas production to the development of innovative end-customer products for its shareholder customers, six German public utility companies and an Austrian gas supplier.

In late September, 2011 Nabucco Gas Pipeline International GmbH announced Bayerngas' intention to become the seventh shareholder in the Nabucco project.

Nabucco is one of the Southern Gas Corridor projects, designed to transport gas from the Caspian region and Middle East to the European countries. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas field development is considered as the main source for the project.

Nabucco project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ.