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SOCAR President: â€œAzerbaijan can not choose â€œNabuccoâ€â€

24 May 2011 16:29 (UTC +04:00)

Expressing position on signing of memorandum on Nabucco project on June 6, in Turkey, Rovnag Abdullayev noted that, Azerbaijanâ€™s position on this project, including other project routes considered for gas transportation to Europe is normal: â€œWe want the realization of this project, because if it realizes, our opportunities will be extendedâ€.

Note that, Azerbaijani side started top choose the route for transportation of gas to be extracted from next stage of Shahdeniz project. At present, Azerbaijan discusses the terms with Nabucco participants which they will present.

At the same time, R. Abdullayev did not exclude that, Azerbaijan can transport its gas to Europe not only Nabucco, but via other routes offering more useful conditions: â€œEverything is possible, there are many projects and we review all of them. Along with other routes, Nabucco participants make their conditions and opportunities. Weâ€™ll choose one of themâ€.

Remind that, Nabucco is the new gas bridge from Asia to Europe and the flagship project in the Southern Corridor. It will be a pipeline to connect the worldâ€™s richest gas regions - the Caspian region, Middle East and Egypt - to the European consumer markets.

The pipeline will link the Eastern border of Turkey, to Baumgarten in Austria - one of the most important gas turntables in Central Europe - via Bulgaria, Romania and Hungary. When completed the 3,900 km pipelineâ€™s annual capacity will be 31 bcm. The construction of the pipeline is supported by the 2009 Intergovernmental Agreement signed in Ankara in July 2009, which harmonises the legal framework and grants stable and equal transport conditions for all partners and customers.

It is widely acknowledged that Central and Western Europe will face a considerable shortfall in its energy supply over the next two decades, with gas prices expected to increase as domestic production declines. Consequently, it is crucial that new infrastructure be established to meet further demand and ensure both security of supply and supply diversification.

The main pipeline will be built in one phase from Ankara to Baumgarten. Construction will start in 2013, first gas will flow in 2017.