EnglishPresident of France Nicolas Sarkozy and Iran Deputy Petroleum Minister Azozollah Ramezan have both expressed their interest in joining the Nabucco pipeline project. According to pipelinesinternational.com, Mr. Ramezan, who also serves as General Manager of the Iranian National Gas Company, recently said that Iran would spend approximately five billion dollars in the next five years, to modernize its infrastructure. This modernization is necessary to allow Iran to supply half of Nabucco"s capacity, he said.
President Sarkozy also met with Turkish president Abdullah Gul, to discuss cooperation on the Nabucco project.
President Sarkozy told President Gul that French enterprises were extremely eager to participate in the Nabucco project.
OMV, leader of the Nabucco project, estimates that work on the pipeline will begin in 2011. The pipeline will be approximately 5,500 km long, and the construction will last 4-5 years. OMV, MOL, Transgaz, RWE, Botas and BEH hold equal stakes in the Nabucco project.
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