Nabucco has problems with resource base

PanARMENIAN.Net - The Nabucco pipeline project has unresolved issues, one of which is the resource base, minister of industry and energy Natig Aliyev told a press conference in Baku.  "The only resource base for Nabucco is Azerbaijan today. Nothing depends on us today in this project. We have done everything and now just wait for further advances,"  the minister said, Trend Capital reports. 



Construction of the "Nabucco" gas pipeline costing 7.9 billion euros  is planned for 2011. The first deliveries are projected in 2014. Maximum capacity of the pipeline will reach 31 billion cubic meters a year. 



Participants in the project are Austria's OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE, each with equal 16.67 percent shares.  30% of the total project will be invested by the shareholders of Nabucco Gas Pipeline International, the remaining 70% will be paid through loans.