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News ID: 765
Publish Date: 11:12 - 13 April 2013
TEHRAN, YJC. -- At today's meeting, members reconfirmed their commitment to ensure that NABUCCO West is selected as the first European route to transport gas from the Caspian.
The fourth NABUCCO Committee convened in Budapest, Hungary today. The Committee comprises of senior representatives of those governments who are signatories to the Intergovernmental Agreement - Bulgaria, Hungary, Romania, Turkey and Austria. At today's meeting, members reconfirmed their commitment to ensure that NABUCCO West is selected as the first European route to transport gas from the Caspian, Nabucco Gas Pipeline International GmbH (NIC) reported today.

The NABUCCO Committee meeting, which was hosted by the Ministry of Foreign Affairs of Hungary, adopted a joint declaration, formally reiterating the political support of the NABUCCO countries for the project. The declaration also outlines various concrete processes to be undertaken by the state parties to the Intergovernmental Agreement, in order to further support the realisation of the project. These processes include the treating the NABUCCO project as a priority by competent authorities in the Transit Countries.

"Today's meeting was yet another positive event in Nabucco's development as we approach the decision by the Shah Deniz II Consortium in June," Reinhard Mitschek, CEO of NABUCCO Gas Pipeline International GmbH said. "The state parties reaffirmed their support to ensure that NABUCCO realises its goal of diversifying energy supply across Europe. The level of strategic and ongoing tactical cooperation demonstrated at the meeting today proves that NABUCCO's political and legal framework is a key asset to the project that delivers real benefits - for producers, investors and suppliers - as we move towards the final phase of the project's development. "

Nabucco West is a short-cut version of the Nabucco project, which envisages the construction of the pipeline from the Turkish-Bulgarian border to Austria. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for the project.

The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV and Hungary's FGSZ.

The final decision on the pipeline route to transport Azerbaijani gas to Europe will be made in June 2013.

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