Socar, OMV ink co-op memo
BAKU – Azerbaijani state oil company Socar and Austrian company OMV have signed a memorandum of understanding on bilateral cooperation, SOCAR said.
The memorandum was signed during a meeting between SOCAR head Rovnag Abdullayev and the delegation members headed by OMV Executive Director. The sides discussed the possibilities of cooperation in the sphere of production, transportation and oil and gas marketing.
OMV is one of the Nabucco gas pipeline project participants. The main suppliers for the Nabucco project are considered Azerbaijan, Iraq and Turkmenistan.
Nabucco project envisages gas supplies from the Caspian region and the Middle East to the EU countries. The pipeline’s maximum capacity will hit 31 billion cubic meters per year. The pipeline’s construction is scheduled for 2013, while the first gas supplies via the pipeline are expected in 2017.
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