Les partenaires de Nabucco dévoilent le calendrier du gazoduc[en][de] 

An intergovernmental agreement between the participating countries - Austria, Bulgaria, Hungary, Romania and Turkey - is expected to be signed in June. "With coordination by the European Commission, we are heading toward compromise, which will be indicated in the draft agreement, the final version of which will be ready in May," Mitschek said. 

The managing director said detailed implementation of the project will begin as soon as the agreement is signed. "The signing of the agreement will clear the processes for specifying the track on the territory of the participating countries, as well as preparation of the evaluation of the environmental impact," he added. 

By the end of the year, the Nabucco consortium plans to begin to realise engineering operations, including commissions for the pipes and compressor stations. 

"The actual construction for the gas pipeline will commence in 2011, and in the following year the suppliers will be determined," Mitschek said. 

He explained that the January gas crisis between Russia and Ukraine, which saw a number of European countries suffer from supply disruptions, had "changed the attitude of the participants in the project," which is designed to decrease the Union's dependence on Russian gas. These attitudes are now positive, he said. 

Mitschek also said significant progress had been achieved with Turkey on moving forward with the Nabucco project. Half of the pipeline's capacity will be used by the shareholders, while the rest will be offered to shippers, he said, adding: "We have already been granted the approval of the regulators in Bulgaria, Hungary, Austria and Romania." 

Mitschek rejected doubts as to whether there would be enough gas to fill the pipe, saying it will rely on several sources, including potentially Russia. "Gazprom can be one of the suppliers," he said, adding that the Russian firm's participation in the project was "currently not on the agenda". 

"In the long term, I expect realisation of supplies from Iran, including LNG terminals. Possible are supplies from Iraq and Egypt. For their realisation though, political stability is necessary. Azerbaijan and Turkmenistan can also take advantage from the project, since good investment conditions will be created in the Caspian region." 

Asked about the project's financing, Mitschek said the Nabucco consortium had held talks with the EIB, the EBRD and credit export agencies. 

"Two months ago, at the meeting in Budapest, the CEO of EIB, Philippe Maystadt, announced that the bank is ready to finance 25% of the project for over two billion euros. The credit agencies are ready to finance the supplies and construction," Mitschek said. 

To read the full version of this interview, please click here.