The final investment decision for the planned Nabucco gas pipeline will be made in the first quarter of next year at the latest, Nabucco shareholder, Austrian Company OMV said.
As Energy Intelligence Group reports citing OMV's gas chief Werner Auli, the open season process should happen in the fourth quarter.
During this process, the project's shareholders will receive about 15 billion cubic meters of gas per year (50 percent of the total transport capacity of the pipeline), and 50 percent will be offered to third parties on an equal terms on the principle of transparency. During the open season process all market participants will be able to conclude long-term contracts.
The Nabucco gas pipeline project worth 7.9 billion euro envisages gas supplies from the Caspian region to EU countries. Participants are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each has an equal 16.67-percent share.
Construction is planned to launch in 2011, with first supplies being commissioned in 2014.
Azerbaijan and Iraq are considered as the main gas suppliers in the first phase of the project. Some 8-10 and 8 billion cubic meters of gas is expected from them respectively.
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