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NABUCCO ministers confirm political, legislative and regulatory support for flagship project in the southern corridor - PHOTO

NABUCCO ministers confirm political, legislative and regulatory support for flagship project in the southern corridor - <font color=red>PHOTO</font>

09 October 2012 06:50 (UTC +04:00)

Nabucco Gas Pipeline International GmbH told APA that the committee also confirmed further that the current legal and regulatory framework for the Nabucco project applies under the current IGA (Inter Governmental Agreement), PSA (Project Support Agreement) and also for the project starting at the Bulgarian border. The meeting was attended by the Minister of Industry and Energy of the Azerbaijan Republic, Natig Aliyev, giving an overview on the developments from the producerâ€™s side.

Reinhard Mitschek, Managing Director of the Nabucco Gas Pipeline International GmbH said: â€œThe Political Committee re-emphasizes the political, legislative and regulatory support enjoyed by Nabucco. This commitment is a crucial factor in making Nabucco the most advanced pipeline project in the Southern Corridor, highly attractive for market participants from all over Europe and Turkey, for gas suppliers, for investors and sponsors. We are reducing risks and maximizing a sound legal protection. We welcome this message of support, and look forward to working with the state parties to ensure freedom of choice and energy security for the European consumer.â€