Financiarul

President Traian Basescu on Friday signed the Decree on promulgation of the law ratifying the Agreement between the Republic of Austria, the Republic of Bulgaria, Hungary, Romania and the Republic of Turkey on the Nabucco project, concluded in Ankara on July 13, 2009.

The inter-governmental Agreement to build the Nabucco pipeline and the joint political statement of the five participating states were signed during a ceremony held in Ankara, Romania being represented by Prime Minister Emil Boc.
The conclusion of the Agreement on Nabucco considered establishing a legal basis and principles to lead to the implementation of this energy project. By signing the Agreement, the partner states undertook providing a proper environment to potential investors and suppliers, as well as to guarantee its implementation.

According to the agreement, the Nabucco gas pipeline will be carrying gas from the Caspian Sea to Europe, via Turkey, to reduce European dependence on Russian gas. The Nabucco project is supported by the European Commission and aims at building a gas pipeline to measure 3,300 kilometers in length, to carry 4.5 billion cubic meters of liquefied gas annually, following gradually the quantity to reach 31 billion cubic meters annually, by 2020.

Participating, with equal percentages of 16.7 percent, in the Nabucco Gas Pipeline International GmbH Consortium, there are OMV (Austria), RWE (Germany), MOL (Hungary), Transgaz (Romania), Bulgaria (Bulgaria) and Botgas (Turkey).