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More details about NABUCCO project

Tuesday, March 23
Ankara is quite actively promoting the NABUCCO project. Recently a meeting was held there at which the NABUCCO project's engineering and financing issues were discussed. Preliminary work should begin soon and in 2014 the transportation of oil through the pipeline should start.

In parallel additional negotiations are underway with Azerbaijan, Turkmenistan and Iraq for supplying NABUCCO with gas. Executive Director of the NABUCCO pipeline company Reinhard Mitschek says that by the time it is completed around 10 billion cubic metres of natural gas will be ready to be transported to Europe. He also is optimistic that gradually supplies will increase and NABUCCO will reach its maximum pumping capacity of 31 billion cubic metres annually.