Fresh Hopes for Nabucco Pipeline following Total`s Natural Gas Discovery

18.09.2011 [14:31]
Print
A⁺ A^-

Baku, 18 September (Azertac). The “Oil Price” has published an article entitled “Fresh Hopes for Nabucco Pipeline following Total`s Natural Gas Discovery”.

The article says a recent discovery of a major natural gas field off Azerbaijan`s Caspian Sea coast by French company Total may soon allow another project, previously relegated to the sphere of necromancy, the Nabucco natural gas pipeline, to become a reality.

According to the article, due to the political skill of Azerbaijan`s national leader Heydar Aliyev the Baku-Tbilis-Ceyhan oil pipeline was realized.

The author says “At a cost initially estimated at $11.4 billion and rising, Nabucco will be the most expensive pipeline ever built, more than three times the cost of the BTC oil pipeline.”

“Nabucco`s major stumbling block up to now has been not financing, but where its throughput would come from. Up to now, the only source of Nabucco`s proposed 31 billion cubic meters (bcm) annual throughput was Azerbaijan`s future offshore Caspian Shah Deniz production, estimated at 8 bcm. Chances of adding to the volume from Iran, given sanctions, were slim to none, while the Chinese have essentially stitched up future Turkmen production, leaving Nabucco an underused energy highway.”

The article says “If Total can exploit the find, then Nabucco could be a possibility on the basis of Azeri Caspian natural gas alone.”

Fresh Hopes for Nabucco Pipeline following Total`s Natural Gas Discovery

FEEDBACK

Other news in this section