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Reinhard Mitschek: Construction of Nabucco will start in 2012

15 October 2010 12:44 (UTC +04:00)

Nabuccoâ€™s progress has been very positive so far. This year saw the start of the Environmental & Social Impact Assessment with the first round of public hearings; a mandate letter was signed with the EIB, EBRD and IFC and starts the appraisal process for a potential financing of up to four billion euros; and we finalized the prequalification process for suppliers of long lead items. The Final Investment Decision is expected to be taken in 2011 and we expect construction to start in 2012, first gas to flow in 2015, depending on the availability of sources.

Nabucco will have a technical transport capacity of 31 bcm per year. We expect considerable quantities from Azerbaijan, Turkmenistan and Iraq.â€