Nabucco Gas Pipeline International expects that the first gas via the 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 Wednesday 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 said.
During this procedure, the shareholders of the project will receive throughput capacity to 15 billion cubic meters of gas per year (50 percent of the total transport capacity of the pipeline), the remaining 50 percent will be offered to third parties on an equal footing.
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-percent 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 percent of the project's total cost. The remaining 70 percent will be paid by loans.
Copyright (c) 2010, Trend News Agency, Baku, Azerbaijan. Distributed by McClatchy-Tribune Information Services.