‘INCREASING OF EUROPE`S NEED FOR GAS WILL REALIZE NABUCCO PROJECT’
Baku, September 16 (AZERTAC). Nabucco project will meet 5% of Europe`s need for gas, managing director of the Nabucco Gas Pipeline International GmbH Reinhard Mitschek told journalists.
Mitschek noted Europe`s current need for gas is 500 bln cubic meters and 30 bln cubic meters of this is imported.
According to Mitschek, Europe`s need for gas is expected to increase 100 bln cubic meters to 600 bln cubic meters. “At the same time Europe is expected to decrease gas production from 200 bln cubic meters to 100 bln cubic meters,” he added.
He also pointed out increasing of European markets` need for gas will realize Nabucco project.
Note that OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgargaz (Bulgaria), BOTAS (Turkey) and RWE (Germany) joined Nabucco Gas Pipeline GmbH. Consortium. Every partner has 16.67% share in this consortium.
The Nabucco pipeline is a proposed natural gas pipeline from Erzurum in Turkey to Baumgarten an der March in Austria diversifying natural gas suppliers and delivery routes for Europe.
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