Nabucco transit countries confirm political support for project
Azerbaijan, Baku, Oct. 8 / Trend A.Badalova /
Nabucco transit countries confirmed political, legislative and regulatory support for the project, Nabucco Gas Pipeline International GmbH reported on Monday.
"The Nabucco Political Committee-Meeting of the Nabucco ministers of the transit countries
convening in Vienna today confirmed the full political support for the Nabucco Gas
Pipeline Project and for the existing Intergovernmental Agreement giving comfort to investors and producers," the report said.
The meeting was hosted by the Austrian Energy Ministry and attended by the Energy Commissioner Günther Oettinger, the Bulgarian Prime Minister Boyko Borisov and the Energy Ministers from Bulgaria, Hungary, Romania and Turkey, as well as the Nabucco shareholders.
The Political Committee confirmed further that the current legal and regulatory framework for the Nabucco project applies under the current IGA (Inter Governmental Agreement), PSA (Project Support Agreement) and also for the project starting at the Bulgarian border. The meeting was attended by the Minister of Industry and Energy of the Azerbaijan, Natig Aliyev, giving an overview on the developments from the producer's side.
According to the Managing Director of the Nabucco Gas Pipeline International GmbH, Reinhard Mitschek, the commitment of the Political Committee is a crucial factor in making Nabucco the most advanced pipeline project in the Southern Corridor, highly attractive for market participants from all over Europe and Turkey, for gas suppliers, for investors and sponsors.
"We are reducing risks and maximizing a sound legal protection. We welcome this message of support, and look forward to working with the state parties to ensure freedom of choice and energy security for the European consumer," Mitschek said.
In June the consortium of Azerbaijani Shah Deniz gas field development selected Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe.
Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from Turkish-Bulgarian border to Austria.
The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ, and each of them holds 16.67-percent share.
Currently, the Shah Deniz consortium considers two options to deliver its gas to Europe - TAP and Nabucco West. The final decision on a pipeline route will be made in 2013.