OMV: Nabucco project delayed to mid-2013February 22, 2012 - 18:44 AMT PanARMENIAN.Net - A key decision about the planned Nabucco gas pipeline will be delayed by one year to mid-2013, the project's Austrian partner OMV said Wednesday, February 22. The preferred supplier for the pipeline from Central Asia to Europe is the Shah Deniz gas field in Azerbaijan. However the consortium managing Shah Deniz - led by British energy group BP - will not decide until next year which pipeline to supply, OMV chief executive Gerhard Roiss said. The Nabucco plan remained alive 12 years after it was initiated, Roiss said, adding, “It is not we who decide the timing of Nabucco, but those who have the gas.” The Shah Deniz consortium is mulling bids from Nabucco, from the Trans-Adriatic Pipeline, and from the Greek-Italian project IGI-Poseidon. The Turkish government said last month that it no longer fully supported Nabucco and is instead prioritizing its own rival TANAP project. Nabucco's shareholders are energy companies in Germany, Austria, Hungary, Bulgaria, Romania and Turkey. OMV also reported that its net profit rose 30 per cent last year, to 1.57 billion euros (2.08 billion dollars). Revenues rose as oil prices were buoyed by the upheavals of the Arab spring, the company said. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ucom’s fixed network launches in Nor Hachn City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices. Armenia parliament to consider draft proposal on impeachment June 17 The Armenian Parliament will hold an extraordinary session on June 17 to consider a draft proposal on the resignation of the government. Armenia to send Deputy Foreign Minister to Berlin’s Ukraine Recovery Conference Georgia will attend the forum at the level of Prime Minister, Foreign Minister, while Azerbaijan will send their Foreign Minister. About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. |