RWE Nabucco Gas Agreement With Turkmenistan Delayed To Year’s End ‎

RWE Nabucco Gas Agreement With Turkmenistan Delayed To Year’s End ‎
# 05 May 2010 09:17 (UTC +04:00)
Baku - APA-Economics. Nabucco shareholder RWE now expects to sign a supply agreement with Turkmenistan by the end of this year, later than expected, as political talks delay progress of the gas pipeline project, Reuters India reported.

"As soon as the political framework has been created, Turkmenistan will be ready to sign a supply contract. The timing depends on the speed of political decision processes," Stefan Judisch, chief executive of RWE Supply & Trading, told reporters in a conference call on Tuesday.

RWE had previously said it expected to sign a supply agreement in the first six months of this year.

The 7.9 billion euro ($10.52 billion) Nabucco project has been hit by delays and analysts have questioned whether it will materialize on time or at all, but they have said the signing of a supply agreement would be a major step forward.
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