Advantage Austria Show navigation

Nabucco Gas Pipeline: Part of Austria’s Safeguard against a Future Gas Crisis

Nabucco © ADVANTAGE AUSTRIA

© ADVANTAGE AUSTRIA

July 23, 2009

Austria one of the signatory countries of the intergovernmental treaty

In July 2009 the five gas transit countries – Austria, Hungary, Romania, Bulgaria and Turkey – as well as the EU signed the intergovernmental treaty in the Turkish capital Ankara laying the foundations for the construction and operation of the Nabucco gas pipeline .
The pipeline will transport natural gas from the Caspian region to the Austrian natural gas hub in Baumgarten (over a distance of 3,300 km = 2,050 mi). The aim of the Nabucco project – led by Austria OMV, Central Europe’s leading oil and gas group, – is to reduce the EU’s dependence on Russia. The expenditure totals 8 billion EUR and operations will start in 2013 at the earliest. It is still unclear which countries are to supply the gas. For Austria the project is “part of our safeguard against future gas crises“. Based on the intergovernmental agreement, 50% of Nabucco’s future transport capacity – 31 billion cubic meters of gas after project completion – will be reserved for the shareholders. Austria’s gas consumption totaled about 9.5 billion cubic meter in 2008 and 54% of Austria’s total gas supply is provided by Russia.

print
©©ADVANTAGE AUSTRIA