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Thursday, 27 October 2016


European Commission to allocate EUR 200 mln for Nabucco

2010-03-10 10:16

European Commission allocated EUR 2.3 bln for implementation of gas and power projects; EUR 200 mln to be allocated for Nabucco gas pipeline. Yet the Commissioner Günther Oettinger, the new Commissioner for Energy, before the final investment decision the money will be frozen - Kommersant.


The um of 2.3 bln euro is the biggest the EU has ever intended for energy infrasrtrucutre; and it will be spent on 31 gas and 12 electric power energy projects. According to the Commission's assessment, these projects are aimed to guarantee EU's energy security in case of cessation of gas or oil supplies from Russia.

Oettinger highlighted these projects will allow to create a more integrate energy system in Europe, which will make possible reversed supplies for any of the EU countries and decrease isolation of Baltic states, Ireland, Malta.

Decision on beginning of construction or the final shutdown will be made by the EU before the end of the year at the special conference in Brussels. The prospect of implementation depends on signing or non-signing a 30-years strategic agreement on gas supplies from Turkmenistan.


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