Nabucco Gas Pipeline International submits transportation proposal to Shah Deniz II consortium

abarrelfullabarrelfull wrote on 10 Oct 2011 10:13
Tags: azerbaijan gas nabucco pipeline

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Nabucco Gas Pipeline International GmbH today submitted a comprehensive transportation proposal to the Shah Deniz II consortium. Reinhard Mitschek, Managing Director, NABUCCO Gas Pipeline International GmbH, stated: “We are confident that Nabucco offers the best export route for gas from Azerbaijan and from other sources. Nabucco is the European flagship project of the South East European Gas Corridor. It is commercially viable and competitive. Political support and stability has been granted by a Treaty with a duration of 50 years signed by all five transit countries as well as by bilateral project support agreements. Nabucco offers a win-win situation for suppliers and transportation customers.
Notes to editors:

Nabucco is the new gas bridge from Asia to Europe. It will directly connect the world’s richest gas regions - the Caspian region and the Middle East, to the European consumer markets. The pipeline will link the Eastern border of Turkey, to Baumgarten in Austria - one of the most important gas turntables in Central Europe - via Bulgaria, Romania and Hungary.

Nabucco Gas Pipeline International GmbH
Nabucco Gas Pipeline International GmbH (NIC) was set up on 24 June 2004 to develop, construct and operate the Nabucco pipeline. Headquartered in Vienna, it is an unbundled midstream-company under EU law. NIC is owned by the Nabucco shareholders and is responsible for the development, construction, operation and capacity trading and allocation for the Nabucco pipeline. NIC will be the only company in direct contact with the shippers and will offer a one-stop-shop solution, operating as an independent economic entity in the market, and acting independently from its parent companies. The pipeline system will be constructed by the National Nabucco Companies (NNCs), which are subsidiaries of NIC in each of the transit countries.

Shareholder structure
The Nabucco shareholders are: OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgarian Energy Holding (Bulgaria), Botas (Turkey) and RWE (Germany). 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.

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