Iraq keen on joining Nabucco gas project - minister
Iraq is "very interested" in participating in the Nabucco gas pipeline project, which seeks to transport gas from the Caspian region and Middle East to European markets, Foreign Minister Hoshyar Zebari said in an exclusive interview with Azerbaijan’s Trend news agency last Saturday.
"Iraq is able to offer its resources for this strategic project, which is of great importance for the country," Zebari said.
He said Iraq is holding a number of meetings to join the project, and has already signed a Memorandum of Understanding on energy cooperation with the European Union.
The minister also stressed that the differences between the Iraqi government and the government of Kurdistan's regional administration will not affect the supply of Iraqi gas for the Nabucco project.
"Iraqi oil and gas are the natural wealth of the Iraqi people, rather than any government," he said.
Construction of Nabucco, a 3,900 km pipeline with a maximum capacity of 31 billion cubic meters per year, is due to start in 2013 and first supplies are expected in 2017. The project's partners include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and the German RWE.
The gas produced within the second phase of Shahdaniz, Azerbaijan’s largest gas field in the Caspian Sea, is considered to be the main source for the Nabucco project. Azerbaijan plans to supply 10 billion cubic meters of gas to Europe from 2017 within the Shahdaniz 2 project.
Nabucco is part of the Southern Corridor of pipelines, a priority EU energy project diversifying supply routes and sources and increasing EU energy security. Besides the Nabucco gas pipeline, it includes Trans-Adriatic Pipeline (TAP) and Interconnector Turkey-Greece-Italy (ITGI).
Zebari said further that Iraq will preside in OPEC in 2012, and in this period the country will do everything possible to protect the interests of oil producers and consumers.
The minister added that oil prices are expected to be $85 to $100 a barrel during Iraq's presidency in the oil cartel.
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