Christian Dolezal - Investment decision on Nabucco gas pipeline may be taken next year

The final investment decision on the Nabucco gas pipeline project may
be taken in the first quarter of 2010 after completion of detailed
engineering and receiving applications to fill the pipeline,
representative of international projects and Nabucco in the Austrian
of the OMV company Christian Dolezal said.

"Next step for the Nabucco process after the signing of the IGA will
be an open season process and finalizing of the detailed planning
which is currently ongoing. This will leaden to a final investment
decision most likely first quarter 2010," Dolezal wrote to Trend
Capital via e-mail.

He added that the Summit in Prague was in regard to Nabucco very successful.

"Turkey expressed its determination to sign the Intergovernmental
Agreement in June. This is very positive and important," Dolezal said.

The potential gas supply counties of the Caspian region came to Prague
and showed both - their political will and they interest to broaden
their portfolio of gas customers.

The EU appreciates the results of the Summit saying that the signed
declaration will help realization of the Nabucco project.

"We consider that the Summit was very positive to push the project
forward and the signed declaration gives a strong political commitment
to the parties to push the project forward," official representative
of the European Commission on Energy issues Ferran Tarradellas wrote
to Trend Capital via e-mail.

Participants of the Prague Summit adopted a joint declaration hailing
prospects to extend gas supplies via the South Corridor to EU. The
declaration was signed by Azerbaijan, Georgia, Turkey and Egypt.

"The European Commission, together with the Council of the EU and the
signatory partner countries, will monitor the implementation of this
declaration and, in particular, work on developing an Action Plan
seeking the implementation of the necessary conditions and the
appropriate supporting measures for the Southern Corridor," Dolezal
added.

The Nabucco project worth $7.9 billion euro will deliver Azerbaijani
and Central Asian gas to the EU. Construction of the pipeline is
expected to commence in 2014. 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 cost of the project will be
invested by shareholders of the Nabucco Gas Pipeline International,
and the rest 70 percent share will be paid through loans.

/Trend Capital/