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Azerbaijan to become one of the main suppliers to Nabucco gas pipeline
[
10 Jul 2009 11:19 ]
Baku. Victoria Dementyeva –APA. Azerbaijan, Iraq and Egypt will become the main suppliers to the EU-backed Nabucco gas pipeline, delivering 15 billion cubic meters of gas per year from 2015, said Wolfgang Ruttenstorfer, Chief Executive of the Austria’s OMV, member of Nabucco Gas Pipeline International GmbH consortium, APA reports quoting Reuters.
Ruttenstorfer said that Europe would need both Nabucco and rival Russian pipelines South Stream and Nord Stream. "I think the risk for Russia of losing its positions in Europe because of this project is close to zero. The projects pursue different business models and will have different sources and customers," he said.
Ruttenstorfer said he hoped Azerbaijan and Iraq would supply 7-8 bcm per year each while Egypt would add 1-2 bcm a year.
He said he didn’t believe that Iran would participate in the project because of instability in this country. "The situation in Iran is not stable today and we need to see how it unfolds. So far I see no light at the end of the tunnel," Ruttenstorfer said.
The intergovernmental agreement on Nabucco project will be signed in Ankara on July 13, 2009 by Turkey, Austria, Bulgaria, Hungary and Romania.
The Nabucco pipeline is a planned natural gas pipeline that will transport the Caspian natural gas from Turkey to Austria, via Bulgaria, Romania, and Hungary. OMV of Austria, MOL of Hungary, Bulgargaz of Bulgaria, Transgaz of Romania, RWE of Germany and BOTAŞ of Turkey joined Nabucco Gas Pipeline International GmbH consortium. Total investment coast of the project was increased recently from 4.6 billion euro to 7.9 billion euro (12.3 billion USD).
The name Nabucco comes from the same famous opera of Giuseppe Verdi dedicated to Babylon king. The pipeline will have total length of 3,300 kilometers. First part of natural gas is planned to be pumped in 2013.
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