Azernews.Az

WASHINGTON D.C. – Nabucco Gas Pipeline International GmbH said it pushed back the start of construction of its 7.9 billion euro ($11.5 billion) link to carry Caspian natural gas to Europe to 2013 and start of operations to 2017, Bloomberg reported.

"The timeline has changed as a direct result of the changes in the timing for gas supplies in the Caspian and Middle East regions, as announced by potential suppliers," Nabucco said Friday on its website.

The pipeline, a joint venture of Germany’s RWE AG, Vienna- based OMV AG, Budapest-based Mol Nyrt., Bulgargaz EAD, Romania’s Transgaz SA and Ankara-based Boru Hatlari ile Petrol Tasima AS, is designed to carry gas more than 3,900 kilometers (2,400 miles) from Turkey to Austria to reduce European dependence on Russia. The venture previously said it would start construction in 2012 and operations in 2015, after moving the timeline several times.

"From today’s point of view I don’t see further delays," Nabucco Managing Director Reinhard Mitschek told journalists today on a conference call from Vienna. He said "it remains to be seen" when the final investment decision, which was scheduled for this year, would be made.

Nabucco is open to new partners if there is "added value" and any negotiations would be between the existing partners and a potential new one, Mitschek said, adding that he was not aware of any "concrete discussions" with State Oil Co. of Azerbaijan, or Socar.

Mitschek also said a report yesterday that the pipeline’s cost had risen to as much as 15 billion euros was "speculation" and that the link’s extension by about 25 percent because of feeder lines won’t necessarily boost the project’s price.