Exclusively available inside The International Herald Tribune in Greece and Cyprus  
  Saturday July 4, 2009 - Archive
Current Edition | Athens Stock Exchange | Useful Information | Greek Edition | Site Search  
  Search
Home page
ENGLISH EDITION
Date
04/07/2009  
Frontpage
News
Commentaries
S/E Europe
Features
Business. & Fin.
Arts & Leisure
Sports
Weather
Classifieds
Cartoon Archive
  RSS
INFORMATION
Company Profile
Health & Emergency
S/E EUROPE
Key Nabucco gas pipeline deal to be signed July 13, but issues remain


AP

Turk Foreign Minister Ahmet Davutoglu (l) walks with his Romanian counterpart Cristian Diaconescu (r) at the end of their meeting in Bucharest, Romania, yesterday. On his first visit abroad since taking office, Davutoglu was assured by Diaconescu of Romania’s support for Turkey’s European Union membership.

SOFIA (AFP) – EU nations and Turkey said yesterday they will sign a key intergovernmental agreement in Ankara on July 13 on Europe’s flagship Nabucco gas pipeline project, but key issues still need to be resolved.

Turkish officials said that invitations had been sent to the relevant parties and one official in Ankara told AFP on condition of anonymity that Turkish Prime Minister Recep Tayyip Erdogan would host the signing ceremony.

Foreign Minister Ahmet Davutoglu said on a visit to Romania that Nabucco, which is planned to reduce Europe’s dependency on Russian gas imports, was a “priority” and a “very important, strategic project” for his country.

He added that it would “ensure cooperation between the participating states and will solve the general energy problem that faces mankind.” The European Commission, which is not a signatory to the agreement but has been a key proponent of the pipeline and could sign up as an observer once legal details are ironed out, confirmed that it had been invited.

“The Commission has received an invitation to the signing ceremony of the intergovernmental agreement on the Nabucco pipeline on July 13 in Ankara,” a spokesman on energy issues told reporters.

He declined to provide details about the agreement, saying only that it would provide a legal framework including deciding on the allocation of gas for each country that the pipeline would go through.

The agreement is due to be signed by Austria, Bulgaria, Hungary, Romania and Turkey, all the countries through which Nabucco will flow.

The 3,300-kilometer (2,000-mile) pipeline is to pump gas from the Caspian Sea to Austria while bypassing Russia – the main source of Europe’s gas.

The project is planned to become operational in 2014 and estimated to cost 7.9 billion euros (10.6 billion dollars).

It is in direct competition with Russia’s South Stream project, developed by Russian gas giant Gazprom and Italy’s Eni, which will channel Russian gas through Bulgaria to Western Europe under the Black Sea.

Critics have questioned the availability of gas sources for Nabucco, and the project was cast into further doubt in May when key gas suppliers Turkmenistan, Kazakhstan and Uzbekistan held off their support at a meeting in Prague.

Russia also raised concern among Nabucco proponents when it clinched a key deal to buy gas from Azerbaijan, another gas-rich Caspian Sea state.

The signing of the agreement between Nabucco’s shareholders has been delayed by Turkey’s demands to use a percentage of Nabucco’s capacity of 31 billion cubic meters of gas for domestic use or even for re-export.

There was no clear confirmation yesterday from either side that the issue had been resolved.

Turkish officials visiting Brussels last week also hinted they might back off from the deal if EU accession talks are further delayed.

Print article | e-mail


[ Front Page ] [ News ] [ Commentaries ] [ S/E Europe ]
[ Features ] [ Business & Finance ] [ Arts & Leisure ] [ Sports ]
[ Subscriptions ] [ Editor ] [ Webmaster ]
Company Profile | Health & Emergency

S/E Europe
Balkan Briefs
Deadlock could harm Bulgaria
Croatia to appoint female PM
Key Nabucco gas pipeline deal to be signed July 13, but issues remain
Turks asked: So you think you can believe?

English Edition - Greece's International English Language Newspaper
Exclusively available inside The International Herald Tribune in Greece and Cyprus
© 2009 H KAΘHMEPINH All rights reserved.