Reinhard Mitschek: First gas via Nabucco to be supplied from Azerbaijan and Iraq

Nabucco Gas Pipeline International expects that the first gas via this pipeline, supported by the EU, will be received in 2015. "We expect that the first gas via the Nabucco will be received in late 2015 from Azerbaijan and Iraq," Reinhard Mitschek, managing director of Nabucco Gas Pipeline International said today in Baku.

According to Mitschek, Open Season on the Nabucco project will be opened in late 2010-in early 2011.

"This process will be synchronized with the progress of talks on "Shah-Deniz-2" field," he added.

During this procedure, the shareholders of the project will receive throughput capacity to 15 billion cubic meters of gas per year (50% of the total transport capacity of the pipeline), the remaining 50% will be offered to third parties.

The Nabucco gas pipeline is worth 7.9 billion euro. Participants are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each participant has an equal 16.67% share.

"In 2011, all the issues of financing the project will be addressed," Mitschek said.

Its maximum capacity will hit 31 billion cubic meters per year. The Nabucco Gas Pipeline International will invest 30% of the project's total cost. The remaining 70% will be paid by loans.


/Trend/