Nabucco consortium submits proposal on transportation of Shah Deniz gas to Azerbaijan

Nabucco consortium submits proposal on transportation of Shah Deniz gas to Azerbaijan
# 01 October 2011 12:03 (UTC +04:00)
Reinhard Mitschek, Managing Director, NABUCCO Gas Pipeline International GmbH, stated: “We are confident that Nabucco offers the best export route for gas from Azerbaijan and from other sources. Nabucco is the European flagship project of the South East European Gas Corridor. It is commercially viable and competitive. Political support and stability has been granted by a Treaty with a duration of 50 years signed by all five transit countries as well as by bilateral project support agreements. Nabucco offers a win-win situation for suppliers and transportation customers.

Remind that, Nabucco is the new gas bridge from Asia to Europe. It will directly connect the world’s richest gas regions - the Caspian region and the Middle East, to the European consumer markets. The pipeline will link the Eastern border of Turkey, to Baumgarten in Austria - one of the most important gas turntables in Central Europe - via Bulgaria, Romania and Hungary.

The Nabucco shareholders are: OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgarian Energy Holding (Bulgaria), Botas (Turkey) and RWE (Germany). Each shareholder holds an equal share of 16.67% of Nabucco Gas Pipeline International GmbH. It is the shareholders who are responsible for the negotiation of gas contracts.
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