Bank Of Baku

EU to allocate 3 bn Euros to Nabucco project

EU to allocate 3 bn Euros to Nabucco project
# 15 September 2010 14:00 (UTC +04:00)
According to him EU’s allocation for execution of project is very important. European Investment Bank and International Financial Corporation also have mandate for about financing of the project.

R. Mitschek says that Azerbaijani gas will be transported to Turkey through Georgia, Iraq’s gas directly to Turkey. “The pipe is expected to be launched in 2015 tha we refused Iran’s participation in this project.”

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.
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THE OPERATION IS BEING PERFORMED