TODAY.AZ / Business

Intergovernmental agreement on Nabucco project might be signed in coming weeks

05 June 2009 [09:28] - TODAY.AZ
The intergovernmental agreement on the Nabucco project might be signed in coming weeks, said project general director Reinhard Mitchek at a conference "Caspian Oil and Gas 2009" in Baku.
He said the preparation of this document is nearing completion and all issues regarding the legislation of the project member-states have been settled.

He also announced that the gas pipeline capacity might reach 65 bln cubic meters at the final stage and at the first stage it will make just 8-10 bln cubic meters, to be allegedly supplied through the Caspian, specifically Azerbaijani gas. The second stage envisions the gas pipeline capacity at 20 bln cubic meters.

Mitchek said today the cost of the project is estimated at EUR 7 bln. EBRD, Bulgaria and Hungary are ready to allocate 25%. He believes there will not be any problem with the project financing.

/Day.Az/
URL: http://www.today.az/news/business/52881.html

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