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Bulgaria Moves to Ratify Nabucco Agreement
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Nabucco Gas Pipeline International GmbH has submitted a smaller version of the ambitious gas pipeline project. Photo by Nabucco Consortium
Bulgaria's Parliament is expected to ratify the agreement between the Bulgarian Nabucco company and the international Nabucco Consortium for the furthering of the eponymous gas pipeline project.
The agreement was approved by the country's Parliament in March.
The ratification is an obligation of every country party to the Nabucco project, with which countries commit to creating beneficial regulatory conditions for the execution of the project, and giving companies executing it the needed suport.
The Nabucco project, started by Austria, Bulgaria, Hungary, Romania and Turkey, is part of the EU's so-called southern gas corridor, and is set to build a natural gas pipeline do deliver gas from the Middle East, Caspian and Central Asia through Turkey and on to Central Europe.
Last Wednesday, the Nabucco Consortium presented a revised, smaller version of the gas pipeline project called Nabucco West to the consortium developing the Shah Deniz II gas field in Azerbaijan.
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