COST OF NABUCCO GAS PIPELINE CONSTRUCTION CLIMBS UP

Nabucco Gas Pipeline International stated some 1.5-fold increase in the cost of the Nabucco gas pipeline to 7.9bln euro.
The official web site of the project reported that the cost of Nabucco project climbed up given hike in oil prices and rising steel demand.
Consortium of the project reviewed capital expenditures on the basis of assessment of material procurement and supplies for implementation of the gas pipeline construction project. According to new assessment, the project will require 2mln tons of steel, 200,000 pipes and over 30 compressor aggregates.
Nabucco gas pipeline will pump gas from Azerbaijan and Central Asia to EU countries. From Central Asia gas may be delivered to Nabucco via planned Trans-Caspian gas pipeline to be constructed along the bed of the Caspian Sea. The pipeline with initial carrying capacity of 8bln cu m per year will be constructed by 2012. First supplies will be pumped in 2013.
Azerbaijan, Baku, 29 May /Trend Capital corr A. Badalova