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Friday, 28 October 2016


EU leaders allocated EUR 200 mln for Nabucco

2009-03-20 12:54

The EU leaders agreed the EUR 5 bn package of agreements on energy infrastructure development and economy stimulation, stated Mirek Topolanek, the PM of the Czech republic the EU chair country) - ITAR TASS.


Jose Manuel Barroso, the European Commission chairman underlined that EUR 5 bn are obtained from the untapped EU funds. According to Barroso, 4 bn of them will be spent on the EU energy sphere infrastructure improvement, 1 bn - on improvement of access to the high-speed Internet in the EU rural areas.

Within the framework of the energy sphere infrastructure projects the main part of the sum will be spent on expansion of the pipelines and power lines net within the EU. EUR 200 mln of that sum are allocated for Nabucco gas pipeline.

Nabucco implies transportation of Central Asian and Caspian gas to European countries via Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria. It must be the continuation of the existing Baku-Tbilisi -Erzerum gas pipeline. Germany favored the decreased role of Nabucco in the package of EU subsidies. It insisted on allocating money for short-term and middle-term projects in the first line, whereas Nabucco is a long-term project, since it will be completed in 2013 at best.

The EU leaders highlighted that all the EUR 5 bn must be spent before end 2010 in order to let these funds influence the EU economy restoration at maximum.


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