Bulgarian Govt Approves Nabucco Project Support Agreement

Bulgarian Govt Approves Nabucco Project Support Agreement

Bulgaria's government approved a project support agreement for the Nabucco gas pipeline.

"The cabinet approved an agreement on support for the Nabucco gas pipeline project signed in June 2011 by Bulgaria, Nabucco Gas Pipeline International GmbH and Nabucco gas Pipeline Bulgaria EOOD, and proposed it for ratification by Parliament," it said in a statement released on Tuesday following a regular weekly meeting.

"The support agreement aims to set down the details of the mode of implementation of the project on Bulgarian territory," the statement added.

All signatories to the intergovernmental agreement on the construction of the Nabucco pipeline - Bulgaria, Austria, Hungary, Romania and Turkey - are obliged to sign project support agreements, undertaking to ensure that favourable legislative conditions for the implementation of the project are in place.

Austria's OMV, the Bulgarian Energy Holding, Turkey's Botas, Romania's Transgaz, Hungary's MOL and Germany's RWE are partners in the Vienna-based Nabucco Gas Pipeline International, the project company of the 3,300-kilometre pipeline designed to connect the Caspian region and the Middle East with the Turkish and European gas markets that will ensure diversification of routes and sources and contribute to the security of gas supplies. The first gas deliveries are expected by 2017.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.