Romgaz to negotiate with Azerbaijan, Kazakhstan and Iran gas supply contracts for Nabucco

Publish date: 09-06-2009
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Romgaz Medias shall have talks with officials of Azerbaijan, Kazakhstan and Iran in relation to the conclusion of agreements for gas supply to Nabucco gas pipeline, deputy general manager of the gas producer, Lucian Stancu said, cited by Mediafax.

"The last talks took place with Turkmenistan. I hope we resume the talks this year with Azerbaijan", Stancu said without providing other details. A representative of the United States of America said last week that Iran can participate in Nabucco project after the normalization of the relations with the Washington, Mediafax informs.

The consortium Nabucco Gas Pipeline International includes Transgaz Medias (Romania), OMV (Austria), MOL (Hungary), Botas (Turkey), Bulgargaz (Bulgaria) and RWE (Germany). Turkey supported Iran participation in the project but the idea was rejected following the American opposition.

Iran controls the largest natural gas reserves worldwide, accounting for 16 per cent of the total international resources, but it exports a low quantity, following that USA and the UN Organization hindered the investments of the Western companies, which own the financial and technological resources required for increasing production.

On the other side, Romania, in spite of supporting Nabucco project, it does not exclude its participation in other European projects, such as South Stream, a project developed by Russia to compete Nabucco, depending on the support of the European Union for such energy investments, as PM Emil Boc said at the end of May.

Nabucco, supported by the EU and USA, addresses the connection of the central Asian region, rich in natural gas, to Europe. The gas pipeline shall cross Azerbaijan, Georgia, Turkey, Romania, Hungary and Austria, detouring Russia and Ukraine. The beginning of the constructions was scheduled for 2010 and the inauguration was set for 2014. The potential suppliers are Azerbaijan, Iran, Turkmenistan and Iraq.

South Stream is being developed by Gazprom and by the Italian group ENI and it is aimed at delivering Russian natural gas to Europe, detouring Ukraine.

Romgaz has also started the exploration operations in gas perimeters from Slovakia and Poland, in cooperation with the British company Aurelian Oil & Gas.

Romgaz, controlled by Ministry of Economy, operates the largest natural gas storing capacities in Romania and it accounts, together with Petrom, for two thirds of the gas consumption countrywide.

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