No reasons for Nabucco not to succeed

No reasons for Nabucco not to succeed

Nabucco gas pipeline project, which is designed to transport gas from the Caspian region and Middle East to European countries, is the only project in the Southern Corridor that will enable economies of scale and diversification of gas sources to Europe, The Wall Street Journal reported referring to the official representative of Nabucco consortium.

“We are operating off a very strong basis and there is no reason why, on the political, economic or commercial level, our project won’t succeed,” the spokesman of Nabucco Gas Pipeline International GmbH, Christian Dolezal said.

The project is planned to start construction in 2013 and the first supplies will be commissioned in 2017.

The gas that will be produced within the second phase of the development of Azerbaijani Shah Deniz field is considered as the main source for the project. On Oct. 1, Nabucco with the other pipeline projects (TAP, ITGI) submitted their final proposals to the Azerbaijani side, which review them in accordance with previously announced criteria.

Recently there have been many discussions and opinions about the viability of this project.

There were views that Nabucco project has less chances to be realized as compared with other smaller pipelines projects within the Southern gas Corridor.

Earlier the U.S. State Department Special Envoy for Eurasian Energy Richard Morningstar said that Nabucco continues to be a highly desirable political and strategic option. However, he added, that the US will support any pipeline in the Southern gas Corridor, on conditions that it will provide gas to vulnerable countries in Europe and there should be concrete, written guarantees that the pipeline will be expanded as more gas becomes available.

 

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