Nabucco can well do without Iranian gas: expert

"Investments in construction of the Nabucco gas pipeline are estimated at nearly 8 billion euros, and it requires to pump 7.8 billion cubic meters of gas via the pipeline per year so that it will recompense,” Azerbaijani economic expert Vagif Sharifov said commenting on statement by the Iranian ambassador to Azerbaijan claiming that Nabucco’s implementation is impossible without Iran’s participation.

"Despite that many countries have plans of future gas exports to EU via Nabucco, the consortium makes the main stake on gas to be produced at the second stage of a large Azerbaijani offshore Shah Deniz field,” the expert said.

“Shah Deniz-2 is expected to be launched in 2014, exactly the time when construction of the Phase-1 of the Nabucco gas pipeline project will complete. In 2014, the Nabucco gas pipeline pumping capacity will be 8 billion cubic meters and will rise gradually to 15.7 billion cubic meters, and later to 25.5 billion cubic meters. The stated design capacity of the Nabucco is 31 billion cubic meters, which, in fact, will depend on the demand for gas and number of its sources of supply,” Sharifov added.

Sharifov said not so much gas is needed to start implementation of Nabucco and for its investment attractiveness.

“The consortium can well do without Iranian gas. Indeed, in addition to Azerbaijan, the consortium can get gas from Turkmenistan, Kazakhstan, Egypt, Iraq. Moreover, while Europe does not address the issue of Iran's nuclear program, I do not think that the Nabucco Gas Pipeline International will rely on fuel of this country.”

"The Nabucco consortium has repeatedly stated that currently it does not consider Iran as a potential supplier primarily because of political reasons. Moreover, despite the large proven gas reserves of Iran, according to BP, they account for almost 30 trillion cubic meters, the domestic market of this country will require gas imports to meet its own needs,” he noted.

In 2008 Iran’s gas consumption exceeded 117 billion cubic meters which is 4 billion more than in 2007 and nearly 9 billion more than in 2006 and nearly 66 billion cubic meters more than in 1998. It is clear that gas demand in Iran will only grow. To become a gas exporter to Europe, Iran needs huge investments in its gas transport infrastructure,” he said.

/Day.Az/