European Commission attaches great importance to the project Nabucco

The European Commission attaches great importance to the project Nabucco. Confirmation will be the presence of European Commission President Jose Manuel Barroso and Energy Commissioner Andris Piebalgs in the morning in Ankara to sign intergovernmental agreement on building a pipeline Nabucco.

The reasons are several. The capacity of the pipeline with a length of 3300 kilometers, passing through the territory of Turkey, Bulgaria, Romania, Hungary and came to Baumgarten gas distribution center in Austria, will be 31 billion cubic meters of gas, or between 5 and 10 percent of gas consumption in the EU.

However, the project allows for strong diversification of suppliers and transit routes for gas supply in Europe, which is considered crucial for energy security in the EU. Furthermore, Nabucco is the first almost entirely European gas project as it involved four members of the European Union and Turkey to negotiate EU membership.

Lapse of gas specialists concern that without Iranian gas project is not economically justified. One day in Nabucco can poteche Iranian gas, but now it is no longer a mandatory requirement.

The problem is solved and some of Turkey’s request prior to leaving for his own use 15 percent of the gas pipeline passing on. The experts from the European Commission did not specify what particular decision, but mention something very important – security of supply not only the European Union and Turkey.

There is another novelty. In previous version the project Nabucco provided two primary entry points of the pipeline in Turkey, while the new provided more – three or four, located in eastern and southern Turkish borders.

Solved and the problem of financing the Nabucco, whose value is now estimated at 7.9 billion euros. The European Commission has allocated 200 million euros and announced collection offers financing, whose deadline is July 15. Do not expect the difficulties to raise funds despite economic and financial crisis. If you are invested money in a bank, the income will be 2-3 percent, but if they are invested in Nabucco, the profit will be several times greater, experts argue.

Regarding the revenue for the countries through which passes Nabucco, they will distribute the proceeds of the so-called primary. „total fee for cooperation, which will add funds from some other charges. Which party will get what will depend on the length of the pipeline on its territory

According to estimates, to be operated Nabucco first stage should be provided about 8 billion cubic meters of gas. Azerbaijan has given assurances that it can deliver that amount. Before the start of construction of the Nabucco no obstacles.

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Finance

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