Azerbaijan, Baku, Dec. 2 / Trend A.Badalova /
An intergovernmental agreement on the Nabucco project is expected to be ratified by Austria, Romania, Bulgaria and Turkey in December, Nabucco Gas Pipeline International reported today.
The agreement was signed in Ankara July 13.
The Hungarian parliament ratified the intergovernmental agreement Oct. 20. The agreement has already been submitted to the Turkish parliament, the report said.
The Nabucco gas pipeline project is worth 7.9 billion euro. Project participants include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each participant has an equal 16.67-percent share in the project. The construction of the gas pipeline is set to start in 2011 with the first energy supplies being sent in 2014. The pipeline's maximum capacity is 31 billion cubic meters per year.
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