Progress is being made in talks between Nabucco shareholders and potential suppliers of gas to the pipeline, Nabucco's managing director has said.
"The shareholders are currently undertaking the negotiations with the gas suppliers and progress is being made. Therefore we are confident that the construction will start in 2013 and the first gas will flow in 2017," Reinhard Mitschek said in a press release on Tuesday.
"The Nabucco project continues to be driven by the needs of its customers," he continued.
"The Caspian Region and Middle East have some of the world’s largest gas reserves, which the producers are very keen to export to Europe. The construction of the Nabucco pipeline infrastructure has been aligned with the expected timetable from the producers’ side."
He recalled that the consortium developing Stage Two of Azerbaijan's giant Shah Deniz gas condensate deposit announced in Q1 2011 that the first gas would be produced for export in 2017. If all goes to plan, the Nabucco pipeline will be ready to export the gas.
"Nabucco is the most viable transportation route from the Caspian basin, both logistically and economically, and will certainly lead the way in developing the infrastructure of the Southern Corridor," Mitschek said.
The EU-backed Nabucco project is the largest of three pipelines competing to export gas from Shah Deniz to Europe via Turkey.
The other two projects are the Interconnector Turkey-Greece-Italy (ITGI) and the Trans Adriatic Pipeline (TAP).
The Shah Deniz consortium and Azerbaijani government are expected to decide this year on the export route for gas produced during Stage 2 of development of Shah Deniz.
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