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Sources of Natural Gas Supply - European Union

80%. 20%. Import Norway. Import Russia. Indigenous Production. Import Algeria. Imports. Import Others. Indigenous Production. Sources of Natural Gas Supply - European Union. 2001 Indigenous Net Imports 45% Production 55 %. 2002

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Sources of Natural Gas Supply - European Union

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  1. 80% 20% Import Norway Import Russia Indigenous Production Import Algeria Imports Import Others Indigenous Production Sources of Natural Gas Supply - European Union 2001 Indigenous Net Imports 45% Production 55 % 2002 Indigenous Net Imports 48% Production 52 % 2030 Indigenous Imports 80% Production 20 % 13% 14% 19% 18% 55% 53% 12% 12% 3% 1% Source: EU-forecast, EU Energy, Issue 86, July 2nd, 2004 Source: Eurogas

  2. Forecast of Gas Supply – OECD Europe Source: „Security of Gas Supply in Open Markets - LNG and power at a turning point“, Edition 2004 (OECD/IEA)

  3. New projects / Investment needs Source: International Energy Agency (2002a).

  4. Requirements for realisation of new projects • Investment necessity in transmission networks  US$ 50 to 75 billion in the next decades 1)Investment need in Russia, the Middle East and Africa not included • Prerequisites  attractive investment climate for the natural gas industry in Europe Necessity for long term stable arrangements with relevant regulatory authority 1) Source: Gas Matters Today, 25.09.03 ref. IEA statement

  5. Gas Reserves around Europe Source: OMV Gas GmbH, May 2004

  6. Nabucco Gas Pipeline New gas supply route to Europe from Turkey to Austria via Bulgaria, Romania and Hungary

  7. Project Partners • OMV • OMV Gas Gmbh, Austria • MOL • MOL Natural Gas Transmission Ltd., Hungary • Transgaz • S.N.T.G.N. Transgaz S.A., Romania • Bulgargaz • Bulgargaz EAD, Bulgaria • BOTAS • Botas Petroleum Pipeline Corporation, Turkey

  8. Nabucco Gas Pipeline Strategic Goals of Project • Opening a new gas supply corridor for Europe from Middle East and Caspian regions • Raise transit profiles of participating project countries • Contribution to security of supply for partner countries and for Europe as a whole • Strengthening the turntable position of Austrian pipeline grid and the Hub Baumgarten within the European network

  9. Nabucco Gas Pipeline Nabucco‘s Market Shares result from . . . • Cost competitiveness vis-a-vis other new projects • Large gas fields in Middle East and Caspian region • Supply diversity – relative to already linked sources • Nabucco partners take-off gas to partially meet their future gas demands

  10. Nabucco Gas PipelineProposed route Source: OMV Gas GmbH, May 2004

  11. OMV Gas GmbH - Transmission Pipelines through Austria N 34,82 CZ 0,72 F 2,89 WAG SK D Baumgarten Oberkappel 5,65 PENTA Burghausen HAG West 0,18 0,26 0,19 TAG H NABUCCO I + II 2,60 Murfeld SOL I Arnoldstein HR SLO 21,06 1,62

  12. Nabucco Gas Pipeline Basic Pipeline Data

  13. Results of Market Study 2010 2020 31,0 25,5 10,5 4,5 Source: The Boston Consulting Group, June 2004

  14. Nabucco Gas PipelineTime schedule / Milestones (1) REALIZED • In October 2002 a co-operation agreement was signed by the project partners - goal is to conduct a feasibility study for constructing the pipeline • 1H 2003 saw - the preliminary pipeline route approved and all border crossings fixed - the finalisation of the working program - the application for EU-funding • Interim market study was finalised in 2H 2003 and the technical and environmental studies started • 1H 2004 saw first results of the Technical Working Group and initial considerations on legal and tax issues

  15. Nabucco Gas PipelineTime schedule / Milestones (2) REALIZED • Nabucco Company Pipeline Study GmbH, Vienna was found as Joint Venture of the five partners in February 2004. Scope of the Company: - coordination of the study phases - coordination/execution of marketing activities - lobbying/negotiations with regulatory authorities - negotiations/marketing of the transportation capacity • Review of market study and refining of business model by end of June 2004 • Appointment of ABN Amro as financial advisors to projectin July 2004

  16. Nabucco Gas Pipeline Time schedule / Milestones (3) TO BE REALIZED • Foreseen steps for the 2H 2004: • Finalisation of all study phases • Final results of Technical Working Group • Final run of business model • Completion of financial feasibility study • Assessment of legal frameworks and tax issues • Negotiations with shippers Basis for decision of the project partners how to proceed with the project. Signing of Partnership Agreement for construction and operation phases.

  17. Nabucco Gas Pipeline Time schedule / Milestones (4) TO BE REALIZED • Finalisation of Feasibility Study End 2004 • Detailed Technical Design / • Environmental Assessment Study 2005 – Mid 2006 • Construction to begin around 2H 2006 • Construction completed and pipelineoperational around End 2009

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