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Azerbaijan’s Energy Minister: Nabucco gas pipeline project is real

26 January 2009 20:58 (UTC +04:00)

Thus, in terms of diversifying the supply routes, the Nabucco pipeline project is viewed as a priority and is supported by the European Union. Azerbaijan has quite a positive approach towards this project," Azerbaijan’s Minister of Industry and Energy Natig Aliyev told an APA correspondent in Budapest.

According to the minister, Azerbaijan is now developing its gas potential and new gas deposits. "Here we are not talking only about Phase 2 of Shah Deniz . The point is that there is good potential for development of other fields in our country. From this perspective, the Nabucco project is in our interests. So, here the main target is to create opportunities for the flow of natural gas resources to international and European markets," he added.

In his words, there are many routes to transport Azeri gas to foreign markets and Azerbaijan favors the diversification of routes.

"We also have the opportunity to pump our natural gas through Russia, Iran, Georgia and Turkey. Through Turkey, there are options for multiple routes for gas, for example, to Italy, Greece, as well as through the Nabucco to the Balkan region. All the projects supported by the European Union are attractive to Azerbaijan. We take very serious these projects and are looking forward to them," he underlined.

Natig Aliyev added that a statement is due to be adopted by Heads of States and Governments at the end of the summit to express support for the project.

"This will be kind of a signal or a good incentive for all parties and companies which take interest in the project and could potentially finance it. This statement will provide them with a very big political support. The Budapest summit will provide its contributions and assistance for the progress of this project. However, I would say, still, there are much to be done for this project. For example, issues related to the agreements, the definition of norms, standards or transit arrangements within the Nabucco project. In my opinion, in the implementation of the project it is high time to gradually move to real dimensions," he concluded.