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Ambassador Per Stankina: Germany takes interest in Azeri gas flow to Europe

31 March 2009 15:09 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Germany is interested in Azerbaijanâ€™s participation in the Nabucco gas pipeline project, said the German Ambassador to Azerbaijan Per Stankina.

According to him, Azerbaijan expects to achieve peak oil output in 2012-2013 and the countryâ€™s oil reserves will not be depleted even in 2025.

The ambassador said Azerbaijanâ€™s gas reserves are enough for more than 100 years.
In his words, Germany is interested in Azerbaijan participation in the Nabucco project and import of Azeri gas to Europe.

The pipeline, which will be one-third financed by the owners and two-thirds by banks according to preliminary estimate, is meant to diversify and lessen Europeâ€™s dependence on Russian gas from 2013 or 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.