EBRD ‘would back’ Baku on Nabucco gas pipeline
The president of the European Bank for
Reconstruction and Development (EBRD), Thomas Mirow, has said if
the Azerbaijani government puts forward an initiative on the
EU-backed Nabucco gas export pipeline project, the bank will
support it.
Mirow told the press in Baku that the consent of all parties involved is necessary to materialize the project.
"This is a very complicated project, and for us to support Nabucco, it is necessary to call for the backing of both participants, transit states and producers. Besides, there are political and commercial aspects involved. They should be profoundly analyzed, so that sustainability of the project is ensured. But Azerbaijan is crucial and is a decision-maker here."
The 3,300-kilometer Nabucco pipeline, which will run from eastern Turkey to the Austrian capital Vienna, is expected to come online in 2014. Azerbaijan is one of the key suppliers for Nabucco, which will carry up to 31 billion cubic meters of gas annually.
Azerbaijan produces most of its gas from the giant Shahdaniz field in the Caspian Sea, which holds estimated reserves of 2 trillion cubic meters. During Phase 2 of Shahdaniz development, scheduled to begin in 2012-2013, gas exports are planned to a number of countries, including European markets.
Mirow told the press in Baku that the consent of all parties involved is necessary to materialize the project.
"This is a very complicated project, and for us to support Nabucco, it is necessary to call for the backing of both participants, transit states and producers. Besides, there are political and commercial aspects involved. They should be profoundly analyzed, so that sustainability of the project is ensured. But Azerbaijan is crucial and is a decision-maker here."
The 3,300-kilometer Nabucco pipeline, which will run from eastern Turkey to the Austrian capital Vienna, is expected to come online in 2014. Azerbaijan is one of the key suppliers for Nabucco, which will carry up to 31 billion cubic meters of gas annually.
Azerbaijan produces most of its gas from the giant Shahdaniz field in the Caspian Sea, which holds estimated reserves of 2 trillion cubic meters. During Phase 2 of Shahdaniz development, scheduled to begin in 2012-2013, gas exports are planned to a number of countries, including European markets.
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