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Nabucco pipeline deal to be signed on June 6, says APA

The signing of the agreement on the construction of the Nabucco gas pipeline consortium is planned for June 6 and will take place in Turkey, Azerbaijan news agency APA cites the Turkish Energy Minister Taner Yildiz as saying.

Nabucco will transport natural gas from the Caspian region to European states, bypassing Russia. It will run through Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austrturkeyia. It is expected to transport about 31 billion cubic meters of gas annually, covering at least 5% of EU demand for gas in 2020.

Besides Hungary’s MOL, the participants of the project are OMV (Austria), Bulgargaz (Bulgaria), Transgaz (Romania) Botas (Turkey) and RWE (Germany) with a 16.67% share each.

Yildiz said that there are no obstacles for signing of the document.

A statement in May said that construction will start in 2013 and first gas supplies will be transported in 2017. Earlier reports said that it will be done in 2012 and 2015 relatively. The problems occurred with suppliers.

Azerbaijan is yet to give its final response on the issue. If it refuses to participate, negotiations will switch to Iran, Iraq and Turkmenistan, the Turkish minister said.