Azernews.Az

The Western-backed NABUCCO pipeline to pump gas from the resource-rich Caspian and Central Asia regions to Europe by-passing Russia is more important than Moscow`s rival South Stream project, Hungarian Prime Minister Ferenc Gyurcsany has said.
Gyurcsany said during a visit to Baku on Monday that considering Europe`s demand for gas is growing by the year, the European Union is particularly interested in the NABUCCO project. He said that according to estimates, the EU needs 150-200 billion cubic meters of gas in the next 15 years, and NABUCCO could deliver 30bn cu. m. of the volume.
"We are anticipating a speedy implementation of this project. There is also a need to determine how much gas is needed to effectively operate the pipeline. Specific investors should be sought to realize the project as well. Naturally, Azerbaijan plays a crucial role in the project," the Hungarian premier said.
He added, however, that the key issue now was whether or not Europe would be able to receive gas via NABUCCO.
Moscow is opposed to the initiative and has instead offered an alternative - the South Stream pipeline that would transport gas through its territory.
The US and EU have been pressing for gas to be shipped west across the Caspian, ideally through an undersea pipeline that would avoid Russian territory and connect to the proposed 3,300km NABUCCO route, which would link the Caspian and central Europe. The pipeline is to transport gas from Central Asia to Azerbaijan under the Caspian Sea, then to Georgia and Turkey and further to Europe. The pipe`s annual throughput capacity is estimated at 31bn cu. m. Transportation of first gas via the pipe is expected in 2013.
Azerbaijan is the only country that has pledged to export its gas via NABUCCO so far. Western nations are now working to secure supplies from other major producers - Kazakhstan and Turkmenistan.