TODAY.AZ / Business

Bulgarian Economy and Energy Minister: "The South Stream and Nabucco will ensure only the third part of Europe's growing demands for gas by 2010"

04 June 2008 [15:33] - TODAY.AZ
The cost for the project of Nabucco gas pipeline construction has grown from EUR 5 bln up to EUR 8 bln due to the delay of its implementation, said Bulgarian Minister of Economy and Energy Petar Dimitrov at the international exhibit Caspian Oil and Gas-2008.

The delay in the project implementation may lead to gas export in the Chinese and Indian direction, considers the Bulgarian Minister.

"The Nabucco pipeline construction is to commence in 2009 and by pessimistic forecasts in 2010. If the project implementation does not start within this period, gas will not flow in the direction of the European countries and will flow in the direction of China and India", said Dimitrov at the international exhibit "Caspian Oil and Gas".

The Minister stressed importance of connecting the Bulgarian pipeline with the Turkish one.

"60 kilometer section, communicating Bulgaria and Turkey, can be built for 1.5 years and this will allow receiving gas directly from Azerbaijan. This will be the second alternative source, not related to Gazprom's gas pipeline", said Dimitrov.

Calling on Turkey and Greece to accelerate talks, Dimitrov noted that transit pipelines should not be regarded as a source of income on gas sale and only transit territory should be allocated.

"The South Flow and Nabucco, whose capacity will make 62 bln cubic meters will be able to ensure only the third part of the growing demands of gas of the European consumers by 2010 and the fifth part of the European demands by 2010", noted the Minister.

According to Dimitrov, construction of Nabucco's Bulgarian section will demand up to EUR 1 bln.

/Day.Az/

URL: http://www.today.az/news/business/45441.html

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