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Market Survey shows huge demand for Nabucco capacities
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Press Release August 18th, 2008 - Vienna
Pipeline capacities are more than 100 percent overbooked by potential shippers on a non binding basis
- In preparation of the Open Season Process the Nabucco Gas Pipeline International GmbH undertook an actual market survey amongst potential shippers on a non binding basis last month.
- Nabucco capacities are more than 100 Percent overbooked by potential shippers from day one in 2013 on a long term basis.
- Strong request for transport of natural gas from various gas sources in Central Asia and Middle Eeast.
- Open Season Process will start, when the legal framework - Exemption Process and Intergovermnental Agreement - is finally established.
August 18th, 2008: Reinhard Mitschek, Managing Director of Nabucco Gas Pipeline International GmbH stated: "This result is a strong positive signal from the European gas market and potential shippers to Nabucco. More than 100 Percent overbooking from day one in 2013 shows huge demand for the provided Nabucco capacities on a strong growing gas market."
The current market sounding last month addressed potential shippers to deliver their interests in Nabucco capacities on a non binding basis. So far Nabucco Gas Pipeline International GmbH has already signed various Letters of Interests with potential shippers. The result of the recent market survey underlines this interest.
"The Open Season Process itself will start after the legal framework for Nabucco - Exemption Process and Intergovernmental Agreement - is finally established. This is an important prerequisition for the project", said Mitschek.
Pioneer project for securing Europe's gas supply
The Nabucco project is one of Europe´s most important energy infrastructure projects to strengthen Europe's security of supply for natural gas, as it contributes substantially to diversifying existing supply routes. The 3,300 km long pipeline connects the large gas deposits in the Caspian region, the Middle East and Egypt with Europe. The investment costs will amount to approximately EUR 7.9 bn. When completed, the pipeline's annual capacity will be 31 bcm. Shareholders nowadays are OMV, MOL, Transgaz, Bulgargaz Holding, BOTAS and RWE.