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Construction of Bulgaria-Turkey gas pipeline within framework of Nabucco project to start in a year

03 August 2010 08:51 (UTC +04:00)

Minister said the European Union will allocate â‚¬200 million on the project. The new pipeline will completely meet the requirements set for Nabucco.

According to Traicho Traykov, the project on coordinating gas transportation networks of Bulgaria and Greece is being reviewed, as the project prepared by the previous government did not meet the interests of Bulgaria.

The Nabucco pipeline is a planned natural gas pipeline that will transport the Caspian natural gas from Turkey to Austria, via Bulgaria, Romania, and Hungary. OMV of Austria, MOL of Hungary, Bulgargaz of Bulgaria, Transgaz of Romania, RWE of Germany and BOTAÅž of Turkey joined Nabucco Gas Pipeline International GmbH consortium. Total investment cost of the project was increased recently from 4.6 billion euro to 7.9 billion euro (12.3 billion USD). The total length of the pipeline is 3,300 kilometers. First part of natural gas is planned to be pumped in 2013.