NABUCCO GAS PIPELINE TO BE CONSTRUCTED IN 2011, RAINHARD MITSCHEK

Baku, 5 February (AzerTAc). There's a realistic chance that the financial close of
the Nabucco gas pipeline project is due just before the end of 2009 and construction
could start in 2011, Rainhard Mitschek, who heads the Nabucco project, told press
conference in Ankara. Rainhard Mitschek also said European Commission is ready to
back up this project and has already announced that it plans to invest 250 million
Euro in the Nabucco pipeline. Nabucco, which sees intergovernmental gas pipeline
agreement to be signed in April, is likely to bring 8-10 billion cubic meters of
initial gas before the end of 2014, and total amount will raise to 31 billion cubic
meters by the year 2019. The project is expected to cost €7.9 billion and will be
designed for a gas transport capacity of 31 billion cubic meters a year.
According to Rainhard Mitschek, within the nearest 20 years Europe’s gas needs will
rise, and thus, there will be a need for safe and reliable energy source. Turkey is
a key player in Nabucco project and consortium wants the pipeline to run from
planned site at Ahiboz near Ankara. As for the Blue Stream project, the Head of
Nabucco does not exclude its possible inclusion in Nabucco system in future.