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Dana Gas will go ahead with its project in Kurdistan
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Translated by IRAQdirectory.com - [6/1/2009]
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A source at Dana Gas, stated to Reuters on Sunday that the Emirati company will go ahead with its project in Kurdistan region of Iraq despite the objection of the Federal Government on this deal.
The UAE Crescent Petroleum and Dana Gas company have entered this month in a consortium with the Austrian O.M.V and Hungarian M.O.L, to pump gas from Kurdistan, which is enough to launch Nabucco pipeline and supply gas to Europe via Turkey.
After this announcement, the Iraqi Federal Government immediately rejected the signed agreement by the Kurdish regional government, putting a potential obstacle to the project.
A source of Dana Gas, spoke to Reuters on the sidelines of a conference at al Sharjah, without mentioning his name, "We don’t care about all of these internal conflicts and disputes."
The source added, "Our contract is valid 100% from the legal point of view ... and what is going between the Kurdish government and the federal government, is a dispute we are not a party in," he said.
The Iraqi Ministry of Oil had criticized the oil and gas contracts signed by the Kurdistan government with foreign oil companies and calling them illegal.
Nabucco pipeline, which is supported by Europe aims to reduce the dependence on Russian gas. So far, the pipeline project with an investment value of ten billion dollars, has attracted many buyers over the actual quantity of gas to be sold.
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