RWE: Nabucco Pipeline Will Begin Operations In 2014 As Planned
March 25 2010 - 3:53AM
Dow Jones News
German utility company RWE AG (RWE.XE), a member of the Nabucco
consortium, said Thursday the pipeline slated to transport natural
gas from the Caspian region to Central Europe will begin operations
in 2014, as planned.
"We expect to make a final investment decision over the course
of 2010," said Michael Rosen, spokesman for RWE Supply &
Trading. "Construction is expected to begin in 2011 and first gas
will flow in 2014," he said.
Rosen added that the gas deliveries via Nabucco are expected to
reach full capacity between the start of operations in 2014 and
2018.
His comments come in response to a report in Sueddeutsche
Zeitung earlier Thursday that quotes European Commissioner Guenther
Oettinger as saying that Nabucco will start operations in 2018 at
the earliest.
Apart from RWE, the Nabucco consortium also includes Austria's
OMV AG (OMV.VI) and Hungary's MOL Nyrt (MOL.BU), among others. The
planned capacity for the pipeline is 31 billion cubic meters of
natural gas.
Company Web sites: www.rwe.xom; www.sueddeutsche.de
-By Jan Hromadko, Dow Jones Newswires; +49 69 29725 500;
djnews.frankfurt@dowjones.com
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