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Project Support Agreements to be signed next week in Turkey

01 June 2011 12:23 (UTC +04:00)

Reinhard Mitschek, Managing Director, Nabucco Pipeline International GmbH commented: â€œThe Project Support Agreements represent a significant step in the advanced development stage of the Nabucco Pipeline. Together with the Intergovernmental Agreement, the Project Support Agreements are a necessary prerequisite for the successful financing of the project.â€

The main elements of the PSAs are the affirmation of an advantageous regulatory transit regime under EU and Turkish energy law; the protection of the Nabucco Pipeline from potential discriminatory changes in the law; and support for legislative and administrative actions for the further implementation of the project. The PSAs also mark a commitment by each government to support the project.