OMV welcomes the agreement between Turkey and Azerbaijan on gas

pipeline project, believes that the agreement achieved between the two
countries will provide the European project with about 10 billion
cubic meters of Azeri gas annually, stated OMV general director
Wolfgang Ruttenstorfer, Trend reports citing the Energy Intelligence
Group.

Construction of the pipeline will start in 2011. Construction will
cost about 1.9 billion euros. It will be able to transit 31
billion cubic meters of gas annually.

The participants in the project are Austria's OMV, the Hungarian
company MOVL, the Bulgarian Bulgargaz, Rumania's Transgaz, the Turkish
company Botas and Germany's RWE, each of which possesses equal shares
of 16.67%.