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Competitiveness of Nabucco project to be increased

15 September 2010 11:18 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Nabucco Gas Pipeline International GmbH. Consortium intends to increase the competitiveness and liquidity of Nabucco project, Nabucco Gas Pipeline International GmbH. Consortium President Reinhard Mitschek informed.

According to him Nabucco and North Stream are different from each other. Nabucco will help Azerbaijani, Iraqâ€™s and Turkmenistanâ€™s gas to be delivered directly to Europe while North Stream will help Russian gas to be transported to Northern-West and Continental Europe.

Note that OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgargaz (Bulgaria), BOTAS (Turkey) and RWE (Germany) joined Nabucco Gas Pipeline GmbH. Consortium. Every partner has 16.67% share in this consortium.

Contract on the construction of North Stream pipeline was signed in September, 2005.

Nord Streamâ€™s shareholders are: Gazprom (Russia), Wintershall, E.ON Ruhrgas (Germany), Gasunie (Netherlands) and GDF Suez (France).