Romanian Transgaz pays its EUR 10.2 mln contribution to Nabucco gas project
Romanian state gas company Transgaz will contribute EUR 10.2 million to the budget of Nabucco Gas Pipeline International GmbH (NIC) in the first half of this year, corresponding to a 16.6 percent participation in the project.
Romania Insider · Journalist
· Updated · 1 min read
Romanian state gas company Transgaz will contribute EUR 10.2 million to the budget of Nabucco Gas Pipeline International GmbH (NIC) in the first half of this year, corresponding to a 16.6 percent participation in the project.
The Nabucco company project was created in 2004, with the aim to develop and run the Nabucco gas pipeline connecting the Eastern Turkish border to Austria, via Bulgaria, Romania and Austria. The pipeline would thus connect the natural gas rich Caspian and Middle East regions to European markets. Nabucco's shareholders are OMV and MOL in Austria, Transgaz in Romania, Bulgarian Energy Holding (Bulgaria), Botas (Turkey) and RWE (Germany), each with a 16.6 percent participation in the project company. When completed the 3,900 km pipeline’s annual capacity will be 31 billion cubic meters. The main pipeline will be built in one phase, with construction set to start in 2013 and the first gas to flow in 2017. editor@romania-insider.com
