Nabucco Construction Start Delayed To 2013 - Mediafax.ro

Nabucco Construction Start Delayed To 2013

The consortium building the Nabucco gas pipeline postponed construction start by one year, until 2013, while the date of first deliveries was pushed back to 2017.

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Imaginea articolului Nabucco Construction Start Delayed To 2013

Nabucco Construction Start Delayed To 2013

Nabucco Gas Pipeline International GmbH announced Friday arevised timeline for the Nabucco pipeline project, the consortiumsaid in a news release.

"The timeline has changed as a direct result of the changes inthe timing for gas supplies in the Caspian and Middle East regions,as announced by potential suppliers. Construction is envisaged tocommence in 2013 to align the Nabucco timeline with gas suppliers,"the consortium said.

Thus, the project company expects to make the first deliveriesof natural gas in 2017.

 

Construction works were initially set to start in 2012, withdeliveries commenced in 2015.

"The Open Season process will start as soon as there are firmindications that gas supply commitments are in place. The FinalInvestment Decision will be taken consequently," said ReinhardMitschek, the consortium's managing director.

"We now expect first gas to flow through the pipeline in 2017.The Nabucco project continues to be driven by the needs of itscustomers," he added.

According to the Nabucco project, the gas pipeline shouldtransport 31 billion cubic meters of natural gas from the CaspianSea to an Austrian hub, through Turkey, Bulgaria, Romania andHungary. The companies partnering in the project are RomanianTransgaz Medias (TGN.RO), Austrian OMV, Hungarian MOL, BulgarianBulgargaz, Turkish BOTAS and German RWE.

The project is officially evaluated at EUR7.9 billion, based ona feasibility study from 2005, but people close to the matter toldReuters Thursday that the estimation was raised to EUR12-15billion. Nabucco representatives dubbed the number as "inexact" and"speculation".

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Tags:
NABUCCO ,
CONSTRUCTION ,
POSTPONEMENT