Azerbaijan, Baku, Jan. 14 / Trend , S.Babayeva/ "Nabucco is the key gas pipe project for the alternative gas supplies to Europe," Estonian Minister of Economic Affairs and Communications Juhan Parts said in Baku on Jan. 14.
"The Ukraine-Russia dispute has manifested that we need alternative energy sources and transit opportunities. And Nabucco is the key solution to the issue," he said.
The Nabucco gas pipeline will supply Europe with 20 billion cubic meters of gas per year. The pipeline will deliver gas from the Caspian region to European countries, the Nabucco Gas Pipeline Company said.
The pipeline is expected to supply two billion cubic meters to both Romania and Hungary and one billion cubic meters to Bulgaria. Another 15 billion cubic meters will be supplied to other European countries via Baumgarten - a major natural gas hub in Austria. The remaining 5-10 billion cubic meters will be pumped to Turkey.
According to the Nabucco Gas Pipeline Company, Azerbaijan will export roughly 10-12 billion cubic meters annually to Turkey and Europe through Nabucco.
Construction of the pipeline is expected to commence in 2010. Its maximum capacity will be 31 billion cubic meters per year. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.
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