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AGREEMENT ON NABUCCO PIPELINE PROJECT TO BE SIGNED ON JULY 13 IN ANKARA
ANKARA - The intergovernmental agreement on Nabucco natural gas pipeline project which bears great importance for the energy security of both Turkey and Europe will be signed in Ankara on July 13.
06.07.2009 - Update : 06.07.2009
A press release issued Monday by the Foreign Ministry of Turkey said also a summit meeting would be held the same day with the participation of natural gas producing countries, consuming and transit countries.
Natural gas supply from source countries and implementation of projects to this end will be discussed during the summit, said the press release.
Turkish Foreign Ministry said the agreement would contribute to Turkey's goal of becoming Europe's fourth main artery of energy supply as well as Europe's energy security by way of diversifying both energy supplies and routes.
It said the agreement would also create a new dimension in Turkey's relations with the EU based on mutual trust and cooperation.
Talks for the intergovernmental agreement between Bulgaria, Romania, Hungary, Austria and Germany began in January 2009 and was facilitated by the European commission.
-NABUCCO-
The Nabucco project represents a new gas pipeline connecting the Caspian region, Middle East and Egypt via Turkey, Bulgaria, Romania, Hungary with Austria and further on with the Central and Western European gas markets.
The pipeline's length is approximately 3,300 km, starting at the Georgian/Turkish and/or Iranian/Turkish border respectively, leading to Baumgarten in Austria.
The Nabucco pipeline is expected to reduce EU's natural gas dependence on Russia.
According to market studies, the Nabucco pipeline has been designed to transport a maximum amount of 31 bcm/y.Estimated investment costs, including financing costs for a complete new pipeline system, amount to approximately 7.9 billion Euro. Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Natural gas supply from source countries and implementation of projects to this end will be discussed during the summit, said the press release.
Turkish Foreign Ministry said the agreement would contribute to Turkey's goal of becoming Europe's fourth main artery of energy supply as well as Europe's energy security by way of diversifying both energy supplies and routes.
It said the agreement would also create a new dimension in Turkey's relations with the EU based on mutual trust and cooperation.
Talks for the intergovernmental agreement between Bulgaria, Romania, Hungary, Austria and Germany began in January 2009 and was facilitated by the European commission.
-NABUCCO-
The Nabucco project represents a new gas pipeline connecting the Caspian region, Middle East and Egypt via Turkey, Bulgaria, Romania, Hungary with Austria and further on with the Central and Western European gas markets.
The pipeline's length is approximately 3,300 km, starting at the Georgian/Turkish and/or Iranian/Turkish border respectively, leading to Baumgarten in Austria.
The Nabucco pipeline is expected to reduce EU's natural gas dependence on Russia.
According to market studies, the Nabucco pipeline has been designed to transport a maximum amount of 31 bcm/y.Estimated investment costs, including financing costs for a complete new pipeline system, amount to approximately 7.9 billion Euro. Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
