Monday, August 23, 2010

Nabucco needs Iran and Iraq

Political hotspots Iraq and Iran will have to supply gas to the European Union if the €7.9bn Nabucco tube is to go ahead, the Azerbaijan Energy Minister has warned.

Azerbaijan is approaching to be the critical retailer to the project, critical if the EU is to be weaned off the dependency on Russia for the appetite needs.

However, Natiq Aliyev pronounced that the projects shareholders, that embody Austrias OMV and Romanias Transgaz, will not strike the aim to begin building a whole subsequent year.

Mr Aliyev argued that tensions in Iraq and Iran would have to be dampened and so they could stick on the supply line as Azerbaijan could not furnish all the gas Nabucco requires on the own.

"In a couple of years, when the Iran and Iraq incident is some-more fast politically, we will be means to exercise the Nabucco plan speedily," he said.

Mr Aliyev additionally referred to that the State Oil Company of Azerbaijan could be listed on an general batch sell inside of three-to-five years.

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