U.S. looks forward to agreement between Azerbaijan & Turkey on Nabucco: U.S. Senator

"The next step in the Nabucco project might be the agreement between Turkey and Azerbaijan about the export price of the gas. US is deeply looking forward that agreement", U.S. Senator for Indiana state Richard Lugar said.

Lugar said Nabucco is a project to which U.S. is showing its great support.

Speaking about the recent gas agreement signed between Russia and Azerbaijan, senator said the agreement will not be a point of dismiss of Azerbaijan's cooperation on Nabucco project, because Russia itself might be a partner for this pipeline.

Lugar also hopes that the contract among Nabucco participating countries "will quicken the process of the export of Azerbaijani and Central Asian gas through the pipeline".

On July 13, the Nabucco participant countries signed an intergovernmental agreement in Ankara. The paper was signed by heads of the governments of Turkey, Austria, Hungary, Bulgaria, Romania and European Commission Chairman Jose Manuel Barroso.

The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.67 percent each

Construction of the pipeline is expected to begin in 2011 and the first supplies in 2014. Its maximum capacity will be 31 billion cubic meters per year. An investment solution on the project will be made in the first quarter of 2010.

/Trend Capital/