Economy
Nabucco submits proposal on short-cut version
“We are convinced that we have submitted a competitive and comprehensive proposal to the Shah Deniz II Consortium, and that this proposal represents a win-win situation for our shareholders and for suppliers alike", said Reinhard Mitschek, Managing Director of Nabucco Gas Pipeline International GmbH, in a statement released on Wednesday.
Nabucco West is a modified concept of the Nabucco project. The concept foresees the construction of a 1300 km pipeline that will run from the Bulgarian/Turkish border to the Central European Gas Hub. The pipeline is designed to transport gas initially from Azerbaijan and is fully scalable to meet future gas transport demand from the Caspian Region and Middle-East to the European markets. Nabucco West will benefit from the existing legal framework, namely the Intergovernmental Agreement, Project Support Agreements and third party access exemptions as the Nabucco base case and will follow exactly the same route on European Union territory.
Nabucco is a joint venture comprising Hungary’s MOL, Germany’s RWE, Vienna- based OMV, Bulgargaz EAD, Romania’s Transgaz SA and Turkey’s Boru Hatlari ile Petrol Tasima AS, or Botas. Each shareholder holds an equal share of 16.67% of Nabucco Gas Pipeline International GmbH. It is the shareholders who are responsible for the negotiation of gas contracts.
Nabucco West is a modified concept of the Nabucco project. The concept foresees the construction of a 1300 km pipeline that will run from the Bulgarian/Turkish border to the Central European Gas Hub. The pipeline is designed to transport gas initially from Azerbaijan and is fully scalable to meet future gas transport demand from the Caspian Region and Middle-East to the European markets. Nabucco West will benefit from the existing legal framework, namely the Intergovernmental Agreement, Project Support Agreements and third party access exemptions as the Nabucco base case and will follow exactly the same route on European Union territory.
Nabucco is a joint venture comprising Hungary’s MOL, Germany’s RWE, Vienna- based OMV, Bulgargaz EAD, Romania’s Transgaz SA and Turkey’s Boru Hatlari ile Petrol Tasima AS, or Botas. Each shareholder holds an equal share of 16.67% of Nabucco Gas Pipeline International GmbH. It is the shareholders who are responsible for the negotiation of gas contracts.
