It is not known with what Nabucco project will end up: economic expert

A contract on supply of Azerbaijani gas to Russia signed by SOCAR and Gazprom is very beneficial for Azerbaijan, Azerbaijani parliament’s standing economic policy committee member and former prime minister Vahid Ahmadov said commenting on signing of a gas deal by Azerbaijan’s SOCAR and Russia’s Gazprom.

"Russia has long wanted to buy Azerbaijani gas, and recently the negotiations on gas supplies between the countries have seen progress. The deal between SOCAR and Gazprom is a result of these negotiations,” he said. 

"I think that the contract between SOCAR and Gazprom to supply 500 million cubic meters a year is just the beginning. Gas supplies will increase and may exceed 1 billion cubic meters per year. Russia has promised that gas prices will be high. Also, Russia is our neighbor. We maintain good relations in all spheres, so the contract signed is very profitable for Azerbaijan,” he said.

"Europe wants Azerbaijani gas to be transported via Nabucco pipeline, but it is future. But now it is benficial for Azerbaijan to export its gas through Russia's pipelines,” Ahmadov said.  

Asked how it might impact the Nabucco gas pipeline project, Ahmadov said implementation of Nabucco is far away.

"According to our data, the Nabucco project is scheduled to be launched in 2014. So, the best option for Azerbaijan today is to export gas to Russia. It is early to speak about Nabucco. It remains unknown with what this project will end up. The construction of Nabucco pipeline has not yet begun. It is scheduled for 2010, but these dates are under question,” he said.

/Day.Az/