New Area for Nabucco Project?

New Area for Nabucco Project? The Nabucco Political Committee-Meeting of the Nabucco Ministers of the Transit Countries convening in Vienna, Austria confirmed the full political support for the Nabucco Gas Pipeline Project and for the existing Intergovernmental Agreement giving comfort to investors and producers. Hosted by the Austrian Energy Ministry and attended by the Energy Commissioner Gunther Oettinger, the Bulgarian Prime Minister Boyko Borisov... Read More

Nabucco shareholders to discuss project implementation in Vienna

Nabucco shareholders to discuss project implementation in Vienna Shareholders of Nabucco gas pipeline project will discuss project implementation issues at a meeting in Vienna on Tuesday. “We confirm that there is a regular shareholders meeting of the Nabucco shareholders in Vienna today. Shareholders meetings take place on a monthly basis and we discuss the project related topics,” Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline... Read More

New Trans-Caspian Project?

New Trans-Caspian Project? Azerbaijan, Turkmenistan and the European Union are drafting two documents that will allow to deliver Caspian and in particular Turkmen gas to Europe, Azerbaijani Energy Minister Natig Aliyev said on Wednesday. According to him, the two resource-rich Caspian littoral states and the EU are expected to complete the preparation of a political document to support the Southern Gas Corridor of pipelines, as well as an inter-governmental... Read More

Nabucco consortium continues supporting project’s original conception

Nabucco consortium continues supporting project’s original conception Nabucco consortium continues supporting the project’s original conception, which envisages the construction of the pipeline from Turkey’s eastern borders to Austrian Baumgarten, Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline International told Trend. “The Nabucco concept, whereby the pipeline travels from the Eastern borders of Turkey to Baumgarten... Read More

Will TANAP replace Nabucco project?

Will TANAP replace Nabucco project? Azerbaijan-Turkish Trans Anatolian Pipeline (TANAP) with initial capacity of 16 billion cubic meters, can be expanded and replace the Nabucco project to transport natural gas only to the EU, Anadolu agency quotes the European Commission’s report sent to member countries’ partners on the energy sector. The European Commission said the EU needs a pipeline to transport Azerbaijani gas to Europe through... Read More

EU can accept ‘any’ gas pipeline from Azerbaijan

EU can accept ‘any’ gas pipeline from Azerbaijan The EU energy commissioner has said that he could “live with any pipeline” from Azerbaijan despite the EU’s long-standing backing for the Nabucco project. Guenther Oettinger made the comments on the sidelines of an industry event on Monday,Reuters reported. The commissioner said he expected an agreement on gas deliveries to Europe from Azerbaijan to be reached in the next... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More

New gas pipeline deal

New gas pipeline deal Turkey and Azerbaijan signed on Monday an agreement to build a pipeline to carry 10 billion cubic metres of Azeri gas to European markets starting in 2017, the Anatolia news agency reported. The deal comes as the EU’s plans to build the so-called Nabucco pipeline across Turkey to bring in Caspian Sea gas and reduce Europe’s dependence on Russia has struggled to sign up suppliers. The accord on building the $5-billion... Read More