Sunday, August 21 2005 13:13 Hrs (IST) - World Time -

New Delhi: State-owned gas firm Gas Authority of India Ltd (GAIL) yesterday (August 20, 2005) said it may pick up stake in a 3,300-km pipeline from the Caspian Sea to Central Europe.

"GAIL has sent an Expression of Interest for participation in the Nabucco Natural Gas Pipeline Project," an official release said.

A final decision on GAIL's equity participation was expected by end 2005.

GAIL has also offered its services for carrying out operations and maintenance for the proposed pipeline, the release said but did not give the quantum of stake the company was seeking in the project.

The Rs 25,000 crore (Euro 4.5 billion), 3,300 km pipeline will be running from the Georgian / Turkish border and the Iranian / Turkish border respectively to Central Europe via Turkey, Bulgaria, Romania, Hungary and Austria.

The capacity of the pipeline would be 26-32 billion cubic meters per annum (70-90 million standard cubic meters per day).

Out of the total pipeline capacity, around 50 per cent of the gas is expected to be supplied to Austria. The project is likely to be completed by 2011.

The project is being implemented by Nabucco Company Pipeline Study GmbH, owned by the Nabucco consortium partners from all five participating countries, BOTAS of Turkey, Bulgargaz EAD of Bulgaria, SNTGN Transgaz SA of Romania, MOL Natural Gas Transmission Co Ltd of Hungary, OMV Gas GmbH of Austria.