Industry and Energy

Home page

Industry and Energy

â€œNabuccoâ€ consortium: â€œWe are optimistic of the decision of Azerbaijanâ€

10 June 2011 13:11 (UTC +04:00)

Baku. Victoria Dementyeva - APA-Economics. â€œWe hope that we will have decision of the suppliers (Azerbaijan) until the end of the year. And we are optimistic of the decision of Azerbaijanâ€, Head of Communication and Public Affairs of Nabucco Gas Pipeline International GmbH Christian Dolezal said.

To him, Azerbaijan has a huge potential to deliver gas to the European markets: â€œ. So Azerbaijan needs a big pipeline with a big capacity for that. That is very logical. There are other projects to deliver other solutions and I donâ€™t say that they are not positive. But the trigger is that only Nabucco offers a secure transit regime trough Turkey on the basis of a treaty and a bilateral contract. So this is something that offers most advantagesâ€.

Dolezal spoke about the advantages of Nabucco: â€œNabucco offers a lot advantages that other projects simply donâ€™t have. You need Nabucco to realize other smaller pipeline projects. Like a transit rejime of Turkey, the stable one. We can easily deliver gas also to Italy and Greece via Austria and Balkans. So there area lot of opportunities The other projects on their way and that is fine. We are open for cooperationâ€.

The argument, that other pipeline projects are cheaper and that is why it is easier to implement. This is too simple and this is not an economical argument. Because if you build you have to ask that you get for a large pipeline, if you invest more. You get 3900 km of pipeline, which will deliver 31 bcm â€“ a big volume. And you get a lot additional businesses, a lot additional benefits. Of course you invest more but you also get more benefits.

So if you will look at the ratios, this is more beneficial. If you`ll invest more you`ll get more revenue.

Remind that, Nabucco gas pipeline project has been considered for exportation of gas through Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria to the Central Europe. OMV (Austria), MOL (Hungary), Transgas (Romania), Bulgargas (Bulgaria), BOTAS (Turkey) and RWE (Germany) have joined Nabucco Gas Pipeline International GmbH consortium established for this purpose.

Azerbaijani gas will be transported via Nabucco gas pipeline from 2017. Along with Azerbaijani gas, gas of Turkmenistan and Iraq will be transported via this pipeline as well. 3/1 of the projectâ€™s cost will be financed by shareholders, other part by financial-credit organizations.