OMV In Talks With Azerbaijan On Nabucco Gas-Austrian Fin Ministry
02 September 2010 - 7:46PM
Dow Jones News
OMV AG (OMV.VI), the Austrian partner of the planned Nabucco
natural gas pipeline, is now in talks with Azerbaijan's state oil
company SOCAR about gas supply for the European Union-backed
pipeline project, the Austrian Finance Ministry said Thursday.
Nabucco, the EU and the six commercial partners in the project,
intend to source up to 31 billion cubic meters of gas to Europe
from the Caspian region as of 2015, bypassing Russia on the
way.
But the partners still need to secure enough gas to fill the
pipeline in the first years. The Azerbaijani gas field Shah Deniz
II, which is currently being developed, has been named an
anticipated key source. Negotiations between oil and gas companies,
Azerbaijan and the consortium developing Shah Deniz II are expected
to begin soon, but all parties involved declined to comment on the
timing or the volume being offered.
Austrian State Secretary at the finance ministry, Reinhold
Lopatka, said Thursday that negotiations have already started.
Austria has a great interest in Azerbaijan as a supplier for
Nabucco, Lopatka said, adding that: "The state-owned energy group
SOCAR is in negotiation with OMV (over gas supply)".
-By Flemming E. Hansen, Dow Jones Newswires; +43 1 513 69 22 10;
flemming.hansen@dowjones.com
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