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Agreement on Nabucco to be signed on July 13th in Turkey

2009-07-03 16:57

Intergovernmental agreement on Nabuccco will be signed in Ankara on July 13th , RIA Novosti reports alluding to Adraian Videanu, the Minister of Economy of Romania, currently staying in Azerbaijan with a visit.


Nabucco project [estimated cost - USD 7.9 bn] implies transporting of natural gas to European countries via Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria. It will be the extension of the existing Baku-Tbilisi-Erzurum gas pipeline.

The negotiations on Nabucco became more active after the Russian-Ukrainian gas conflict in early 2009. The pipeline construction beginning is planned for 2011, operation - since 2014.

Previously Turkish mass media reported of signing on June 25th in Ankara, then the date was adjourned to July 15th. Several days ago messages appear that signing may be postponed because of the unsolved problem of filling the trans-Caspian pipeline with gas.

Potential energy carriers for Nabucco are Azerbaijan, Turkmenistan, Uzbekistan, Iran, Iraq. The USA are against Iran's participation, but support the idea of transporting gas from Iraq. Russia is skeptical about implementation of the project in the nearest years.

The EU intended to allocate EUR 250 mln for the project, later the sum was cut by 50 mln. According to Turkish mass media, the final decision on financing will be made in end 2009-early 2010.


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