English
Interviewed by Financial Times, the management of the natural gas master pipeline project Nabucco said the Russian - Georgian conflict was not hindering their work. Reinhard Mitschek, the CEO of the project company for Nabucco, said the Georgian conflict had had no impact on the project backed by both the US and the EU. The current schedule indicates that the pipeline will become operational in 2013.
According to Thomson Financial, the pipeline will measure 3,300 km. and will deliver Caspian and Middle-Eastern gas to Austria via Turkey, Bulgaria, Romania and Hungary. A marketing study has revealed a huge demand for reserving transportation capacity from the first day of operation. "Now, we"re focusing on setting up the project mechanisms the proper way. Nabucco is on schedule and all partners are determined to finish it. The South Stream project, promoted by Russia, does not make it less attractive and is not competing with it either," said Mitschek. He added that Europe would see a strong increase in the demand for natural gas over the following 20 years and, with declining production, the continent had to diversify supply chains.
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