Accord on Nabucco pipeline project to be signed on 13 July

03 July 2009 11:41  [Source: ICIS news]

BUCHAREST (ICIS news)--An intergovernmental accord for the construction of Nabucco gas pipeline will be signed in Ankara, Turkey, on 13 July, according to Romanian press reports on Friday.

“I [can] confirm that the accord will finally be signed, as all issues related to Turkey's opposition have been solved,” Romanian Economy Minister Adriean Videanu told Newsin news agency.

Turkey recently dropped all conditions on allowing the proposed Nabucco natural gas pipeline to traverse its territory. Ankara has delayed the signing of transit agreements by demanding 15% of the Nabucco's 31bn cubic metre/year capacity for its domestic usage and re-exports.

The €9bn ($12.7bn) Nabucco project aims to cut European industrial and domestic consumers' reliance on Russian gas by providing access to gas from Azerbaijan and other central Asian countries.

More than half of its projected route across the southern corridor would go through Turkey. Gas would be carried via Turkey through to Austria, with the pipeline also traversing Bulgaria, Romania and Hungary.

($1 = €0.71)

To discuss issues facing the chemical industry go to ICIS connect

By: Marian Chiriac
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly