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Nabucco consortium to sign gas supply agreement with Azerbaijan by late 2010

The Nabucco gas pipeline consortium intends to sign agreements with gas suppliers for the pipeline, including Azerbaijan, by late 2010, managing director of Nabucco Gas Pipeline International Reinhard Mitschek said, Trend reports.He said negotiations with financial institutions to finance this project are underway. The final investment decision on the project is expected to be taken in mid 2011 and construction begun by late 2011.Mitschek said there is enough gas to fill the pipeline, particularly in the Caspian region.

Azerbaijan and Turkey sign gas agreement

Azerbaijan and Turkey sign gas agreement

"One more step has been made in the direction of the energy cooperation between our companies and our brotherly nations. The agreements signed today will permit the realization of new large-scale projects which can be compared with the already realized projects of the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzrum gas pipeline " - Rovnag Abdullayev, the president of the Azeri state company GNKAR, said

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.

Russian President to discuss energy issues in Turkey

Russian President to discuss energy issues in Turkey

Russian President Dmitry Medvedev will discuss in Turkey today issues of energy and trade-economic cooperation. As reports PRIME-TASS he arrived in Ankara on Wednesday at the invitation of Turkish President Abdullah Gul.The Turkish Energy Ministry has announced that it expects to sign a memorandum on nuclear power plant construction.

OMV welcomes the agreement between Turkey and Azerbaijan on gas

The Austrian oil and gas company OMV, the operator of the Nabuccopipeline 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

Nabucco construction will start on time

Construction of the Nabucco gas pipeline for the transport of naturalgas from the Caspian to Europe, bypassing Russia, will start on timein 2011, official Nabucco spokesman Christian Dolezal said, theTurkish business channel CNBC said.According to Dolezal, 70% of expenses will be compensated by thefinancial institutions and 30% - by consortium members."The EU has already provided us with a 200 million euro loan," -Dolezal said as quoted by RIA Novosti.

Turkey, Azerbaijan reach gas agreement

Azerbaijan and Turkey have reached an agreement on the value of Azerbaijani gas and its transit through Turkish territory, reports Trend, citing a senior representative at the State Oil Company of the Azerbaijan Republic (SOCAR). Azerbaijani gas will be exported to Turkey during the first and the second stages of the Azerbaijani gas field Shah Deniz development.