Azerbaijan is key country in Nabucco project: EU special representative

"The most important thing is that the EU and transit countries Turkey and Georgia, as well as key country Azerbaijan, which is a transit country and a source of gas, signed a declaration (in Prague) within this project," said Semneby.

Semneby said that the question of Kazakhstan and Turkmenistan's joining the project is the second stage.

The Nabucco project worth ?7.9 billion will deliver Azerbaijani and Central Asian gas to the EU. Construction of the pipeline is expected to commence in 2010. Its maximum capacity will be 31 billion cubic meters per year.  Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each. 30 percent of the total project cost will be invested by shareholders of Nabucco Gas Pipeline International and the remaining 70 percent will be paid through loans.

/Trend Capital/