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Bulgaria Energy Minister: Nabucco Ready by 2013 at Earliest
Business | February 5, 2008, Tuesday // 00:00
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Bulgarian Energy Minister Petar Dimitrov welcomed the joining of German company RWE to the Nabucco consortium. Photo by Yuliana Nikolova (Sofia Photo Agency)
The optimistic scenario for the construction of the Nabucco pipeline, which will transfer Caspian gas to European consumers, envisages the completion of the project by 2013.
This was announced by Bulgarian Minister of Energy and Economy Petar Dimitrov in Vienna before he put his signature under the agreement accepting the German company RWE as an equal partner to the Nabucco Gas Pipeline International consortium.
So far the Nabucco consortium consisted of five partner companies, one from each of the participating countries, namely Austria's OMV, Hungary's MOL MOLB.BU, Turkey's Botas, Bulgaria's Bulgargaz and Romania's Transgaz.
"The joining of the German RWE as a sixth partner in the gas pipeline project will mean the risk will be shared by more companies," Dimitrov explained welcoming the consortium's enlargement.
RWE, the largest electricity producer in Germany, is also among the five bidders for the 49% stake in Bulgaria's Belene nuclear power plant, which is to be constructed.
Minister Dimitrov announced that Bulgaria would support the French company Gas de France for joining the Nabucco consortium as a seventh partner in the wake of a similar statement by Romanian President Basescu on Monday.
The Nabucco gas transit pipeline is designed to deliver gas from Iran, Turkmenistan, and Azerbaijan to Central and Western Europe along a 3,300 km-pipe via Turkey and the Balkans. It is EU's key project to reduce its energy dependence on Russia by diversifying the gas suppliers but securing sufficient quantities of gas from the Caspian region has been uncertain.
The Nabucco project is seen by many as being in direct competition with the Russian South Stream gas pipeline in which Bulgaria agreed to participate during Russian President Putin's recent visit to Sofia.
Minister Dimitrov, however, stressed it was essential that Bulgaria supported both South Stream and Nabucco because only the completion of both pipelines will provide for real competition in gas supplies. In his words gas pipelines should not be a matter of political deals because they are of interest to all EU members.
This was announced by Bulgarian Minister of Energy and Economy Petar Dimitrov in Vienna before he put his signature under the agreement accepting the German company RWE as an equal partner to the Nabucco Gas Pipeline International consortium.
So far the Nabucco consortium consisted of five partner companies, one from each of the participating countries, namely Austria's OMV, Hungary's MOL MOLB.BU, Turkey's Botas, Bulgaria's Bulgargaz and Romania's Transgaz.
"The joining of the German RWE as a sixth partner in the gas pipeline project will mean the risk will be shared by more companies," Dimitrov explained welcoming the consortium's enlargement.
RWE, the largest electricity producer in Germany, is also among the five bidders for the 49% stake in Bulgaria's Belene nuclear power plant, which is to be constructed.
Minister Dimitrov announced that Bulgaria would support the French company Gas de France for joining the Nabucco consortium as a seventh partner in the wake of a similar statement by Romanian President Basescu on Monday.
The Nabucco gas transit pipeline is designed to deliver gas from Iran, Turkmenistan, and Azerbaijan to Central and Western Europe along a 3,300 km-pipe via Turkey and the Balkans. It is EU's key project to reduce its energy dependence on Russia by diversifying the gas suppliers but securing sufficient quantities of gas from the Caspian region has been uncertain.
The Nabucco project is seen by many as being in direct competition with the Russian South Stream gas pipeline in which Bulgaria agreed to participate during Russian President Putin's recent visit to Sofia.
Minister Dimitrov, however, stressed it was essential that Bulgaria supported both South Stream and Nabucco because only the completion of both pipelines will provide for real competition in gas supplies. In his words gas pipelines should not be a matter of political deals because they are of interest to all EU members.
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