| Announcements | ||
| Nabucco to call tenders needs to buy 2 million tonnes of steel - 04 Feb, 2010 | ||
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Bloomberg cited Mr Johann Gallistl procurement manager of Nabucco Gas Pipeline International as saying that the group has planning the 3,300 kilometer link to bring gas from the Caspian Sea region to Europe needs to buy 2.3 million tonnes of steel. Mr Gallistl said that financing for the EUR 7.9 billion projects will be determined after the open season, a process to gauge demand that will last from July into the Q3. Mr Werner Auli head of gas at OMV said that the pipeline will offer 20 year contracts to big European energy companies and new market entrants. The group has had a lot of meetings with banks. He said that we will start the open season process this year and we will either get enough demand or we won’t. If we don’t get enough demand, Nabucco will not be built. Mr Auli said that he’s confident the group will be able to fill the pipeline, which will carry 8 billion cubic meters to 10 billion cubic meters of gas a year in 2014 and 2015. It may boost capacity to 16 billion cubic meters by 2018 and maximum capacity will be 31 billion cubic meters. He said that if we get only 16 billion cubic meters, we will not be investing the full EUR 7.9 billion. Nabucco, which the European Union has agreed to help fund, is due to start shipping gas in 2014. (Sourced from Bloomberg) | ||
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