International gas conference in Baku to discuss Nabucco pipeline

A two-day international gas conference that opens Tuesday in Azerbaijan's capital will in particular discuss the Nabucco pipeline.

BAKU, September 15 (RIA Novosti) - A two-day international gas conference that opens Tuesday in Azerbaijan's capital will in particular discuss the Nabucco pipeline, the event's organizer said.

Terrapinn said Nabucco Gas Pipeline International Managing Director Reinhard Mitschek will speak on the possibility of implementing the Nabucco pipeline project at Gas Infrastructure World Caspian 2009.

Rovnag Abdullayev, the president of Azerbaijan's State Oil Company (SOCAR), will open the conference, touching upon the competitiveness of Caspian natural gas at a time of low gas prices, as well as joint work with Russia, Europe and Asia and other issues.

Andris Piebalgs, the European Commission's Energy Commissioner, will address the role of Caspian gas in Europe's energy security, and British Minister of State for Energy Lord Hunt will speak on the challenges to overcome.

Europe has expressed concern about its reliance on Russia, which meets a quarter of its gas needs. Calls for diversified supplies intensified following a bitter price dispute between Moscow and Kiev in early 2009, when Russia cut off gas to Ukraine, affecting consumers across Europe. Russia supplies about 80% of its Europe-bound gas via Ukraine.

The Western-backed Nabucco project, estimated at 7.9 billion euros ($11.5 billion), is designed to pump Central Asian gas to Austria and Germany via Turkey, Bulgaria, Romania and Hungary, bypassing Russia.

Over 150 senior industry executives are expected to attend the event.

According to Terrapinn's website, Gas Infrastructure World Caspian is a "unique forum bringing together Caspian governments, NOCs, IOCs, pipeline consortia, and major gas buyers."