Azernews.Az

The European Union hopes that by the end of this year a decision will be made on building the Nabucco gas pipeline that seeks to pump Caspian gas to European markets bypassing Russia, EU Energy Commissioner Gunther Oettinger said in Baku on Thursday after a meeting with the Minister of Industry and Energy Natig Aliyev.
According to Oettinger, a key role in supplying gas for the Nabucco pipeline is given to Azerbaijan, which can provide a significant part of fuel for the pipeline.
"Azerbaijan appears keen on joining the Nabucco project, and we believe that part of the gas to be produced here will be exported through the pipeline. One may rely on Azerbaijan’s backing in this project."
The 3,300-kilometer Nabucco pipeline, which will run from eastern Turkey to the Austrian capital Vienna, is expected to come online in 2014. Nabucco will carry up to 31 billion cubic meters of gas annually.
Turkmenistan is considered as a second gas supplier for Nabucco. Oettinger said that during his meeting with Turkmen leaders, Ashgabat expressed willingness to provide the remaining volumes of gas for the conduit.
Oettinger said that neither Iran nor Iraq are being considered as the third and fourth gas suppliers for Nabucco at this point, because Iran, itself, currently imports gas, and in his opinion, in the near future Iran will not be able to act as an exporter.
Another reason Iran and Iraq are not being considered as suppliers is the tense political situation in both countries.
According to the commissioner, implementing the Nabucco project requires political will of the transit countries, the EU member states as well as gas suppliers.
He said the EU stands ready to assist in solving transit issues between Azerbaijan and Turkey in order to solve them on a mutually beneficial basis.
There are plans to hold a conference on Nabucco by this fall to discuss all issues concerning the implementation of this project.
According to Oettinger, in addition to oil and gas reserves, Azerbaijan is a producer of petroleum products. These energy resources are very important for 500-million Europe. According to him, Europe has advanced technologies that can create conditions for cooperation between the sides.
Minister Aliyev said the Nabucco project is crucial both for Azerbaijan and the EU, noting that the sides should work together to realize this project. In particular, environmental impact of the project should be estimated, accurate assessment made for the volumes of gas that can be provided by the suppliers and sources of gas specified.
According to Aliyev, Azerbaijan has sufficient recoverable gas reserves which are estimated at 2.2 trillion cubic meters. Even if only the existing fields are developed, without any other technological changes, the South Caucasus republic can meet its domestic demand for 100 years, he said.
The minister added that the existing gas reserves should be operated, therefore, Azerbaijan needs new markets to sell its fuel.*