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Azerbaijan Expects Concrete Proposals On Nabucco |
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BAKU. January 21, 2009: Azerbaijani President Ilham Aliyev will attend a summit for participant countries in the Nabucco gas pipeline project in Budapest on January 26-27, Azerbaijani Foreign Minister Elmar Mammadyarov said on January 21.
Azerbaijan expects that the participant countries will make concrete proposals for delivering Central Asian and Azerbaijani gas to Europe, he said.
The Nabucco project is worth $12.4 billion and expected to deliver Central Asian and Azerbaijani gas to the EU. Construction of the pipeline is expected to begin in 2010.
The pipeline will have a maximum capacity of 31 billion cubic meters per year. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.
About 30 percent of the project will be invested by Nabucco Gas Pipeline International. The remaining 70 percent will be provided by international institutions. The rest will be invested by export-credit agencies and commercial banks (Trend). |