Nabucco and TANAP sign cooperation memo

Nabucco and TANAP sign cooperation memo
# 04 March 2013 12:41 (UTC +04:00)

According to “Nabucco Gas Pipeline International GmbH.”, both sides officially announced that they agree with cooperation for south Gas Corridor development.

According to memo, Nabucco and TANAP will exchange technical and other strategic information and cooperate as they support development of their relevant projects.

Document also says routes of natural gas supply must be diversified for improvement of diversification and reliable supply of EU and South-Eastern European regions with gas.

Nabucco CEO Reinhard Mitschek says the memorandum brings closer to the goal for diversification of gas supply to Europe dealing with connection of two inseparable parts of South Gas Corridor: “Memorandum creates mutual frame for distribution of significant information and works for continuation of both projects successfully”.

Nabucco Chief Financial Officer Frank Siebert noted that all components of prices chain existing between Shahdeniz gas and European consumers in the coming months will be operated together to arrange the project programs on one line for all shareholders to earn maximum commercial revenue and this MoU is a significant step in this process.

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THE OPERATION IS BEING PERFORMED