Directors of Nabucco and White Stream British company to visit Baku

PanARMENIAN.Net - Nabucco Managing Director Reinhard Mitschek and White Stream Pipeline Company Director Roberto Pirani will arrive in Baku to participate in International Caspian Oil and Gas Exhibition.



Euro 7,9 billion project, Nabucco gas pipeline, (with maximum capacity: 31 billion cubic meters a year), will deliver gas from the Caspian region to Europe. Nabucco's shareholders are Austria's OMV, Hungary's MOL, Romania's Transgaz, Bulgaria's Bulgargaz, Turkey's Botas and Germany's RWE.

In accordance with White stream project, gas from Azerbaijan's Shakh-Deniz Caspian Sea field will be delivered through Georgia to Ukraine and EU states.



In the first phase, the initial pipeline carrying capacity will comprise 8 billion cubic meters of gas daily. In this case, the gas will be exported from Azeri Shakh Deniz gas field. Later, the "white stream" will be connected to Transcaspian gas pipeline. The second line will be laid down the Caspian Sea, to increase annual pipeline capacity up to 24-32 billion cubic meters of gas.



According to Azeri Minister of Energetic Natic Aliev, "Despite the abundance of different gas export projects - Russian, Iranian directions, White stream, Nabucco, Turkey-Greece-Italy, strategically we're considering one main direction while diversifying transfers."



"It doesn't matter what market the gas will be delivered to. Long term perspectives of purchase are of major importance, as well as stable financial possibilities of consumers. Considering International financial institutions' forecasts, Europe can become an eligible market for Azerbaijan," The Minister stated.



Azerbaijan has already been exporting gas to Georgia, Turkey, and conducting swap operations with Iran. Negotiations are held with Russia over annual export of 1,5 billon cubic meters of gas to Dagestan, as well as purchase of gas at market prices from the second phase of Azerbaijan's Shakh-Deniz Caspian Sea field.



"A decision to launch the second phase of Azerbaijan's Shakh-Deniz Caspian Sea field will be passed within nearest future," Natic Aliev stated, adding that the decision depends on gas purchases from the second phase.



Touching on Nabucco implementation perspectives, the minister complained about West's lack of interest to this project.

Nabucco pipeline construction project was officially presented in March 2—9 in Sophia.