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Tuesday, February 01, 2005

Romania to begin Nabucco project

The Nabucco project was launched in 2002 through a cooperation agreement between natural gas transport companies Botas (Turkey), Bulgargaz (Bulgaria), Transgaz (Romania), MOL (Hungary) and OMV Gas (Austria). Each company controls 20% in the project.

The feasibility study for the gas pipe line crossing Romania is to begin in March, the Economy and Trade Minister said yesterday.

The 4.6 billion euro Nabucco gas pipeline will cross Romania linking the Caspian Sea region to Central Europe.

Construction of the 3,400 kilometer long pipe is scheduled to be completed in 2010.

Each participating country in the consortium will have to build the section that crosses through its territory.

Posted by Iulia Rasoiu : 2/01/2005 09:21:00 am