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Hillary Clinton: â€œWe can make a progress with our allies to reach political understanding on Nabucco projectâ€

15 January 2009 10:04 (UTC +04:00)

â€œI will together with my team insistently assure our European allies to reach political understanding over the construction of Nabucco or other pipelines for diversification of European gas supply. Nabucco will have ultimate significance in the Europeâ€™s energy security. However such expensive, difficult and multinational project needs in perfect understanding with commercial and government organizationsâ€.

The Nabucco pipeline is a planned natural gas pipeline that will transport natural gas from Turkey to Austria, via Bulgaria, Romania, and Hungary. The preparations of this project started in February 2002 when first talks took place between Austrian OMV and Turkish BOTAÅž. In June 2002, five companies (OMV of Austria, MOL of Hungary, RWE of Germany, Bulgargaz of Bulgaria, Transgaz of Romania and BOTAÅž of Turkey) signed a protocol of intention to construct the Nabucco pipeline, followed by the Cooperation Agreement in October 2002. It is planning to transport 31 billion cubic meters of natural gas per annum.