“The benchmark for these estimates, set by consultancy companies that participate in this project, are the tariffs in October 2008. The estimates will be recalculated based on the new tariffs,” Comanita said. The latest estimate regarding the gain of the state-owned company from the pipeline was made by Minister of Economy Adriean Videanu, who forwarded the amount of €1 billion.
Transgaz’s dividends from Nabucco are expected to amount to €3 bln for 25 years. From this, we subtract the company’s participation, of €1.3 bln. Of this participation, €417 million are Transgaz’s own funds, and the remainder will come from loans. The state-owned company will need government guarantees to participate in this project, because it does not meet the requirements related to the investment rating and the value of earnings before interest, taxes, depreciation and amortizatio (EBITDA).
The total cost of the Nabucco project is estimated at €8.05 bln, and each of the six companies that will participate in this project will contribute with equal percentages, of 16.7 percent. Of the total, 30 percent will be funds ensured by these six companies, while the rest will come from loans.
The Nabucco pipeline will provide 2.58 billion cubic meters of natural gas to Romania annually, some 15 percent of the current consumption. Building the pipeline will bring total investments exceeding €1 bln for Romania. Some 600 permanent jobs and approximately 7,000 temporary jobs will be created in Romania during the construction of this pipeline.
