Bulgarian Energy Holding Contributes EUR 1,3 M to Nabucco Company
Energy | November 7, 2009, Saturday
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The Board of Directors of the Bulgarian Energy Holding decided Friday to deposit EUR 1,345 M for increasing the capital of the Nabucco Gas Pipeline International company.
The sum reflects the proportional share of the Bulgarian participant in the company, BEH’s subsidiary Bulgargaz.
Each of the six companies participating in the project - OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgargaz (Bulgaria), BOTAŞ (Turkey), and RWE (Germany) – has an equal share.
In June 2009, the CEO of Nabucco Gas Pipeline International requested that the partners made two consecutive deposits for increasing the company’s capital.
As a result, BEH made its first deposit amounting to EUR 1,972 M in August 2009, when the capital of the Nabucco company reached EUR 773,8 M. It will be increased by another EUR 8 M after the second deposit of each of the partners.
The Nabucco gas transit pipeline is supposed to bring natural gas supplies from the Caspian region and the Middle East to the EU. It will have a total length of 3 300 km, and is expected to cost about EUR 8 B.
Tags: Nabucco, gas, natural gas, gas pipeline, pipeline, BEH, Bulgarian Energy Holding, Bulgargaz, Nabucco Gas Pipeline International
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