Iraqi Kurd Oil Minister: In Nabucco Supply Talks With 3 Firms
February 02 2010 - 10:56AM
Dow Jones News
Iraq's Kurdistan Regional Government is in talks with three
companies to supply natural gas to the Nabucco pipeline, the
region's oil minister said Tuesday.
Speaking to reporters, Ashti Awrami said "it is our right" to
negotiate the use of gas from the region, adding "the revenue is
for Iraq."
Nabucco, which will bypass Russia by carrying gas from the
Caspian region to Europe, has faced concerns it may struggle to
find the quantities needed to fill the pipeline.
The minister wouldn't disclose the companies involved, but
Austria's OMV AG (OMV.VI) and Hungary's MOL Nyrt. (MOL.BU) are both
investors in both the KRG and the Nabucco consortium.
The KRG estimates its soil could hold 200 trillion cubic feet of
recoverable gas reserves.
A final investment decision for the 3,300-kilometer pipeline is
due by year end with completion expected in 2015.
-By Benoit Faucon, Dow Jones Newswires; +44 207 7842 9266;
benoit.faucon@dowjones.com
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