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Budapest to Host Nabucco Summit

Politics » BULGARIA IN EU | January 22, 2009, Thursday // 00:00

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Hungary is to host a summit on JanuaryВ 27 to discuss the construction of the Nabucco gas pipeline, planned to carry gas from Central Asia to Europe.

Representatives from the European Union, Caspian Sea gas producing countries and gas transit states will attend the summit, RIA Novosti quoted a diplomatic source in Brussels as saying.

The recent gas dispute between Russia and Ukraine over gas prices and a new contract on natural gas supplies affected around 20 European countries, and has prompted the European Union to intensify talks on the construction of an alternative gas supply route.

The USD 10 billion Nabucco pipeline, backed by the European Union and the U.S., is expected to link energy-rich Central Asia to Europe through Turkey, Bulgaria, Romania, Hungary and Austria.

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