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Khoshbekht Yusifzade: Azerbaijan has enough gas to fill Nabucco pipeline

19 February 2009 11:12 (UTC +04:00)

According to him, Azerbaijanâ€™s natural gas reserves allow the Nabucco pipeline to work.
â€œAzerbaijanâ€™s gas reserves are estimated to be more than 2 trillion cubic meters. Of this, Shah Deniz holds 1.2 trillion cubic meters, Azeri-Chirag-Guneshli 300 billion cubic meters and other deposits 500 billion cubic meters,â€ he added.
He added that Azerbaijan also has several other promising gas deposits while the discovered deposits allow the countryâ€™s presence in the Nabucco project.

The pipeline, which will be one-third financed by the owners, and two-thirds by banks, is meant to diversify and lessen Europeâ€™s dependence on Russian gas from 2013or 2014.
The project requires two million tonnes of steel, 200,000 pipes and more than 30 compressor units.
The pipeline consortium - Nabucco Gas Pipeline International Ltd. is equally owned (16.67% each) by Austriaâ€™s OMV, Hungaryâ€™s MOL, Turkeyâ€™s Botas, Bulgariaâ€™s Bulgargaz and Romaniaâ€™s Transgaz and Germanyâ€™s RWE.
Named after the Babylonian king in the eponymous opera by Italian composer Giuseppe Verdi, the pipeline will take 31 billion cubic meters of gas each year from the Middle East to Europe from 2013 at the earliest. It is likely to deliver the first gas to Europe after 2013.