New hope for Nabucco

A key intergovernmental agreement on the European Union’s Nabucco gas pipeline will be signed on July 13 in Ankara, Bulgarian Minister of Economy and Energy Petar Dimitrov told journalists in the city of Varna.

The information was confirmed by the European Commission. An invitation for the ceremony in Ankara has been received.

“I can confirm that the Commission has received an invitation to the related parties for the signing of the agreement on July 13 in Ankara,” EC Spokesperson said.
An intergovernmental agreement on the Nabucco project, which is due to bring natural gas from the Caspian region to Europe, bypassing Russia, will be signed on July 13 in Ankara, Romanian Minister of Economy Adriean Videanu said during his visit to Azerbaijan.

Turkey, which does not have large reserves of hydrocarbons, wants 15% of the total amount of the transported gas for its own use and export. The Romanian minister said “the 15% issue has been solved.”

“As far as I know, the issue has been solved, but I am not aware of the details,” said Videanu.

The aim of Nabucco is to decrease EU’s dependence on Russian gas. Azerbaijan is thought to be the most likely gas supplier and in the future shipments may come from the Middle East as well. The natural gas will be transported to Western Europe via Turkey, Bulgaria, Romania and Hungary.

However, at the end of January European Energy Commissioner Andris Piebalgs said the project would not be subsidized through European funds, rejecting Hungary’s calls for a two-day Nabucco meeting in Budapest organized because of the Russian-Ukrainian crisis, which left many EU member states without gas.

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