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Gas Bridge between Caspian Region / Middle East/Egypt and Europe

The Nabucco Project - The Gas Bridge to Europe Current status & Next Steps World Energy Council Istanbul, October 17th, 2008 Reinhard Mitschek Managing Director Nabucco Gas Pipeline International. Sdsd s. Gas Bridge between Caspian Region / Middle East/Egypt and Europe.

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Gas Bridge between Caspian Region / Middle East/Egypt and Europe

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  1. The Nabucco Project - The Gas Bridge to Europe Current status & Next Steps World Energy CouncilIstanbul, October 17th, 2008 Reinhard Mitschek Managing Director Nabucco Gas Pipeline International Sdsds Gas Bridge between Caspian Region / Middle East/Egypt and Europe www.nabucco-pipeline.com

  2. Nabucco Gas Pipeline ProjectGas imports to European Union 2006 Gas imports Source: European Commission, Competition DG, Energy Sector Inquiry/Draft Preliminary Report Source: BP Statistical Review 2005Source: Study A.T. Kearney, „Russland am Gashahn“, January 2006

  3. Baumgarten Russia Caspian Region: Azerbaijan Turkmenistan Kazakhstan Egypt Iran Iraq Nabucco Gas Pipeline ProjectGas Supply Sources

  4. Nabucco Gas Pipeline Project Gas Supply Sources – Central Asia and Iraq • Azerbaijan will provide gas exports to Turkey and to Europe of about 10 to 12 billion m³ per year • Turkmenistan could contribute considerably to gas exports to Turkey and to Europe provided that the necessary pipeline infrastructure can be establishedThe gas reserves audit by Gaffney, Cline and Associates deliversvery promising results  highest estimates for Yolotan are 14 trillion m³ of reserves ! • Iraq will contribute too feeding gas to Nabucco. Officials from Iraq, the European Commission and the sponsors of the Arab Gas Pipeline hold promising talks

  5. 2010 2011 2012 2013 2014 2015 2016 2017 2018 Construction Step I Constr. Step II O p e r a t i o n Nabucco Gas Pipeline ProjectConstruction – Time schedule Construction Step I Constr. Step II Phase 1 Phase 2 O p e r a t i o n

  6. Nabucco will balance the steady long term supply contracts for Turkey and for Europe with flexibility services to produce market required swing. Off takes Austria and Western Europe 500 to 700 bcmy market Off takesHungary Thanks Nabucco this two market areas will be linkedfor the benefit of both Turkey and Europe ! Off takes Romania 40 to 70 bcmy market Off takes Bulgaria Off takes Turkey

  7. Nabucco Gas Pipeline Project Results of Market Survey (pre-stage to Open Season) CONCLUSIONS Capacity is much over the planned design capacity of 31 bcm/y (for the HIGH CASE) Demand pattern is focusing on start-up period of Nabucco (essential for financing)

  8. Existing/Possible Supply Routes to Nabucco Gas Pipeline The FID for Nabucco will encourage Investors in E&P and in upstream pipeline Infrastructures – This will provide Security of Supply for Turkey and for Europe !

  9. Nabucco Gas Pipeline Project Development Phase:Major objects of consideration Contracting/Execution of Front End Engineering Design Final Investment Decision Establishment of Legal Framework: Exemption & IGA/HGA Execution of Market Survey / Open Season Conclusion of Transportation Contracts

  10. Nabucco Gas Pipeline Project Contracting/Execution of FEED • Penspen was engaged as General Engineer for the project in December 2007 • The tender for the identification of the local engineers is work in progress • Local engineers will provide the detail egineering which will provide the basis for • Quality specifications for the long lead items • Environmental and Social Impact assessment

  11. Nabucco Gas Pipeline Project Establishment of the Legal Framework (IGA/HGA) • At present an IGA and HGA versions are under negotiation • Scheduled to be finalized by year end • Envisaged Intergovernmental Conference in Turkey in the first quarter 2009 • The IGA/HGA will provide the legal basis for the lenders and shareholders of Nabucco and it‘s terms and conditions will contribute to the Security of Supply for Turkey and for Europe

  12. Nabucco Gas Pipeline Project Conclusions • Strong interest from the market side • Nabucco will provide the chance to enhance the link from the Caspian Region to Turkey • Strong need to decide now – timing is of essence • The ‚gas bridge Nabucco‘ will link the Euopean and Turkish markets – will result in a win-win situation • Europe has to go for more gas - be it via Nabucco or via alternative means

  13. Contact Nabucco Gas Pipeline International GmbH floridotower Floridsdorfer Haupstraße 1; 1210 Vienna, Austria Reinhard Mitschek Tel. +43 1 2700 371 28660 Fax: +43 1 2700 371 28669 e-mail: reinhard.mitschek@nabucco-pipeline.com www.nabucco-pipeline.com

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