European Commission official: Azerbaijan’s collaboration with Russia does not shackle its involvement in Nabucco project

“Presently, there are indications that gas could come from Azerbaijan, Iran and other sources, including Egypt. And the fact that Azerbaijan is working with Russia on other projects doesn’t obstruct its involvement in the Nabucco project” he added.

Following seven years of tough negotiations, Turkey and four European countries signed a landmark agreement in Ankara on July 13 to build the 3,300 kilometer gas pipeline.

The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.67 percent each.

Construction of the pipeline is expected to begin in 2011 and the first supplies - in 2014. Its maximum capacity will be 31 billion cubic meters per year. An investment solution on the project will be made in the first quarter of 2010.

The Nabucco Gas Pipeline International will invest 30 percent of the project on basis of its share.

The remaining 70 percent will be provided by international institutions.

/APA/