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Nabucco consortium welcomes Shah Deniz II decision

28 June 2012 15:43 (UTC +04:00)

The Nabucco West Proposal, supported by all six shareholders, was submitted by Nabucco Gas Pipeline International GmbH on 16 May, 2012.

Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline International GmbH, commented: â€œThis decision is an important milestone for the Nabucco project and a major step towards the final investment decision. Nabucco delivers freedom of choice to gas consumers and will contribute considerably to the security of supply in Europe. We look forward to a successful cooperation with the producers.â€

The 1300 km 48â€ gas pipeline will transport gas from the vicinity of the Turkish-Bulgarian border through Bulgaria, Romania and Hungary to Austria with off take stations in each transit country. Nabucco West will follow the same principles as the original Nabucco concept. This means that the pipeline will be designed to be a scalable and multisource natural gas transmission infrastructure. Capacity could be scaled up from 10 bcm up to 23 bcm to respond to demand. The project is supported by the Intergovernmental Agreement (IGA) signed in July 2009 and by Project Support Agreements that guarantee a supportive legal and regulatory framework for the project.