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Nabucco Committee reiterates political support to Nabucco West project

12 April 2013 16:19 (UTC +04:00)

According to APA-Economics, The Committee comprises senior representatives of those governments who are signatories to the Intergovernmental Agreement – Bulgaria, Hungary, Romania, Turkey and Austria.

At today’s meeting, members reconfirmed their commitment to ensure that Nabucco West is selected as the first European route to transport gas from the Caspian.

The Nabucco Committee meeting, which was hosted by the Ministry of Foreign Affairs of Hungary, adopted a joint declaration, formally reiterating the political support of the Nabucco countries for the project. The declaration also outlines various concrete processes to be undertaken by the state parties to the Intergovernmental Agreement, in order to further support the realization of the project. These processes include the treating the Nabucco project as a priority by competent authorities in the Transit Countries.

Reinhard Mitschek, CEO of Nabucco Gas Pipeline International GmbH said that today’s meeting was yet another positive event in Nabucco’s development as they approach the decision by the Shah Deniz II Consortium in June: “The state parties reaffirmed their support to ensure that Nabucco realizes its goal of diversifying energy supply across Europe. The level of strategic and ongoing tactical cooperation demonstrated at the meeting today proves that Nabucco’s political and legal framework is a key asset to the project that delivers real benefits – for producers, investors and suppliers - as we move towards the final phase of the project’s development”.

The Nabucco pipeline is the shortest route to access the markets of South Eastern Europe. Only Nabucco enables direct access to the entire Balkan market as well as to Italy and Greece.

The Nabucco pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Bulgarian border, transiting Hungary, Bulgaria and Romania to the Central European Gas Hub in Baumgarten, Austria. Via Baumgarten, gas from Nabucco can be transported to over 500 million customers across Europe.

The project’s comprehensive legal framework is fully established both in terms of ratified Intergovernmental Agreement and Project Support Agreements and exemptions from the 3rd Energy Package being granted.

The Nabucco pipeline offers a scalable concept and enables access to considerable storage capacity along the route. Environmental permits are already obtained in Hungary, and are close to being obtained in Romania and Bulgaria. Nabucco is also the most technically advanced route, with one integrated operations and control system, ensuring the highest reliability and safety standards.