Azerbaijan fully supports Nabucco gas pipeline project: minister

TRT2 TV channel quoted Azerbaijani minister of industry and energy Natiq Aliyev as saying in Ankara at the signing ceremony of the inter-governmental agreement.

"I am sure that the project will be realized successfully," Aliyev said.

Azerbaijan is the corridor for this project. Realization of the Nabucco project will boost Azerbaijan's position on world market, he said.

"Azerbaijani energy policy has being realized successfully," Aliyev said.

The Nabucco project, worth ?7.9 billion, envisages a gas supply from the Caspian region to EU countries. Participants of the project include Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turksih Botas and German RWE. Each of the participants has an equal share to the amount of 16.67 percent.

Construction of the gas pipeline is scheduled for 2011. The first supplies will be launched in 2014. At maximum capacity the pipeline's gas transportation will hit 31 billion cubic meters per year.

/Trend Capital/