Azerbaijan and Turkey's signing agreement on gas export price can help Nabucco implementation

PanARMENIAN.Net - Azerbaijan and Turkey's signing an agreement on gas export price can become the next step in implementing Nabucco project, Deputy Chairman of the U.S. Senate Foreign Relations Committee, Republican Senator for Indiana Richard Lugar believes.



"The U.S. is looking forward that agreement," he said.



Commenting on the recent gas agreement signed between Russia and Azerbaijan, the Senator said that "this agreement can't hamper Azerbaijan's participation in Nabucco, because Russia itself might be a partner in the project".



Senator Lugar also hopes that the agreement between Nabucco countries "will help speed up the export of Azerbaijani and Central Asian gas through the pipeline".



The Nabucco project represents a new gas pipeline connecting the Caspian region, Middle East and Egypt  via Turkey, Bulgaria, Romania, Hungary with Austria and further on with the Central and Western European gas markets



The pipeline length is approximately 3,300 km, starting at the Georgian/Turkish and/or Iranian/Turkish border respectively, leading to Baumgarten in Austria.



Estimated investment costs including financing costs for a complete new pipeline system amount to approximately 7.9 billion Euro.