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Azerbaijan Minister Still Sees Future For Nabucco Gas Pipeline

Azerbaijan still sees a future for the Nabucco pipeline, even after picking a rival project to carry gas to Europe, as it expects to keep increasing output and exports of gas.

In June, the partners in major Azerbaijani gas development Shah Deniz II - BP, Azerbaijan State Oil Company SOCAR, Total and Statoil - chose the Trans-Adriatic Pipeline (TAP) over Austria-based Nabucco West.

The expected investment, including pipelines, will amount to more than $40 billion and reduce Europe's dependence on Russian gas.

The Nabucco West project had hoped to build a central European pipeline to Austria via Bulgaria, Romania and Hungary.

"Nabucco is not dead," Minister of Industry and Energy Natig Aliyev said. "It depends on our resources. And I think we have enough resources to increase production."

"If demand in Europe increases, direct access to South-Eastern European countries would be good," he added.

Aliyev said that Azerbaijan expected a rise in its natural gas production from 2020 after the launch of Shah Deniz II.

Source: Reuters

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