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Austria's OMV hopes to sign clients for Iran gas project by mid-2006

Berlin, Jun 6, IRNA-Austria's OMV, Central Europe's leading oil and gas group, hopes to present within the next months its first major clients for the planned 'Nabucco' pipeline project which would transport gas from Iran's Caspian Sea region to Middle - and West Europe, the business daily Handelsblatt reported Monday.

The paper quoted OMV Chairman Wolfgang Ruttenstorfer as saying that the company has set a time frame until the middle of next year during which it intends to present the major clients.

Potential corporation targeted for long-term delivery deals include Germany's Eon Ruhrgas and RWE as well as Gaz de France, Ruttenstorfer added.

With a construction cost of 4.6 billion euros, the 3,300-kilometer long gas pipeline has a strategic value for OMV in its bid to expand its position in the European gas market.

OMV which has also been active in Iran's Zagros region since 2001 under a four-year agreement signed with the National Iranian Oil Company (NIOC), supplies natural gas to Austria as well as to neighboring Germany, Italy, Hungary, Slovenia, France and Croatia.

... Payvand News - 6/7/05 ... --

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