Azerbaijan interested in implementation of Nabucco project

Azerbaijan is interested in the quick implementation of the gas pipeline construction project Nabucco, Minister of Industry and Energy Natiq Aliyev said, reports Trend. "The level of Azerbaijani participation in gas supplies to Europe via this route depends on the demand," Aliyev said.
He added that Azerbaijan had expressed interest in the project. However, the minister pointed out that Azerbaijan has not undertaken any obligations with regards to "Nabucco".
The Nabucco gas pipeline project is worth 7.9 billion of euro and will be put in operation by 2014. Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies. Each of participants has equal share, which equals to 16.67%.
About 30 percent of the total project cost will be invested by Nabucco Gas Pipeline International shareholders, the remaining 70 percent will be paid by loans.