OREANDA-NEWS. January 27, 2009. The International Nabucco Gas Pipeline Project Summit is held today in Budapest.

The presidential press-service informs that Azerbaijan’s President Ilham Aliyev participates in the summit.

Earlier he said that Nabucco is considered as one of the ways to export “big” Azerbaijani gas under Shah Deniz gas condensate field development phase 2.

Nabucco project is estimated at USD 10-12 billion and 26-32 billion cu m of annual capacity. The launch of deliveries is planned for 2014. The summit subject is the search of financing and gas sources.