Iraq joins the “Nabucco” gas pipeline project

Iraq is very interested in participating in the “Nabucco” gas pipeline project

Iraqi Foreign Minister Hoshyar Zebari said that “Iraq is able to propose its resources for this strategic project, which is of great importance for the country”.

He said that Iraq holds several meetings to participate in this project. Thus, the country has a Memorandum of Understanding on energy cooperation with the EU.

Minister also stressed that the differences between the Iraqi government and the government of Kurdistan’s regional administration will not affect the supply of Iraq gas for the Nabucco project.

“Iraqi oil and gas are the natural wealth of the Iraqi people, rather than any government,” he said. “We will cooperate for the good of the population.”

Nabucco gas pipeline project is a multisource project designed to transport gas from the Caspian region and Middle east to the European countries. Nabucco project is planned to start construction in 2013 and the first supplies will be commissioned in 2017. The total length of the pipeline is 3900 kilometres with a maximum capacity of 31 billion cubic metres per year. The project’s partners include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and the German RWE.

Zebari said that Iraq will preside in OPEC in 2012. During this period the country will do everything to protect the interests of oil producers and consumers.

Minister also stressed that oil prices during Iraq’s presidency in OPEC will range from $85 to $100 per barrel.

 

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