Gaz De France Recalled Its Application For Participation In Nabucco

GAZ DE FRANCE RECALLED ITS APPLICATION FOR PARTICIPATION IN NABUCCO GAS PIPELINE PROJECT

PanARMENIAN.Net
19.02.2008 15:17 GMT+04:00

/PanARMENIAN.Net/ Gaz de France has recalled its application for
participation in Nabucco gas pipeline project, French Trade Minister
Herve Novelli said in Istanbul.

"We have recalled our application because we think that the decision
of the Turkish authorizes was dictated by political reasons," Mr
Novelli said.

Earlier, Turkey vetoed participation of Gaz de France in the project
due to adoption of French bill penalizing the Armenian Genocide denial.

The Nabucco pipeline is a planned natural gas pipeline that will
transport natural gas from Turkey to Austria, via Bulgaria, Romania and
Hungary. It will run from Erzurum in Turkey to Baumgarten an der March,
a major natural gas hub in Austria. Some consider the pipeline as a
diversion from the current methods of importing natural gas solely
from Russia.

Nabucco could bring gas supplies from Iran, Azerbaijan, Kazakhstan,
Turkmenistan, Egypt and Syria.

It will be connected near Erzurum with the Tabriz-Erzurum pipeline,
and with the South Caucasus Pipeline, connecting Nabucco Pipeline with
the planned Trans-Caspian Gas Pipeline. It will run from Erzurum in
Turkey to Baumgarten an der March in Austria with total length of 3,300
kilometres (2,050 mi). In early years after completion the deliveries
are expected to be between 4.5 and 13 billion cubic meters (bcm) per
annum, of which 2 to 8 bcm goes to Baumgarten. Later, approximately
half of the capacity is expected to be delivered to Baumgarten and half
of the natural gas is to serve the markets en-route. The transmission
volume of around 2020 is expected to reach 25.5 to 31 bcm per annum,
of which up to 16 bcm goes to Baumgarten.

Construction of pipeline is expected to begin in 2009 and is planned
to be finished in 2012. It estimated to cost around 4.6 billion EUR
(5.8 billion USD). The company leading the project is OMV from Austria.