Nabucco and the South Stream are incompatible, Italian Minister of
Industry Paolo Romani said, Trend reports.
He said that Germany, Italy and France plan to hold talks on the ITGI
pipeline (Turkey-Greece-Italy) in the coming months.
Romani said that they need to agree on the financing of the gas
pipeline projects, Reuters reports.
Nabucco will transport Caspian gas to Central Europe through Turkey
and the Balkans. A consortium called Nabucco Gas Pipeline
International GmbH was established. The Nabucco Gas Pipeline
International Ltd. Consortium consists of 6 companies: OMV (Austria),
MOL (Hungary), Transgaz (Romania), Bulgargaz (Bulgaria), BOTAS
(Turkey), RWE Gas Midstream (Germany). Each has a share of 16.67%.
The share holders will finance one third of the expenses, the rest
will be financed by credits. The project is worth 7.9 billion euro.
Nabucco pipeline length will exceed 3300 meters and will transport 31
billion cubic meters of gas annually. The first supplies will be
launched in 2014-2015.
The South Stream project will go through the Black Sea to the Southern
and Central Europe. The project is being realized by Gazprom and the
Italian concern ENI and France's Electricite de France (EdF). The
pipeline will be approximately 900 km long, the maximum depth will
exceed 2 km. It will transport 63 billion cubic meters of gas
annually. The land part of the project will be realized according to
inter-government agreements of Russia with Austria, Bulgaria, Serbia,
Hungary, Greece, Romania, Slovenia and Croatia.
