Bulgaria approves support for Nabucco

History

The Bulgarian government approved an agreement on Wednesday to support the EU-backed Nabucco gas pipeline aimed at cutting Europe’s dependence on Russian gas. The support agreement between Bulgaria and Nabucco’s consortium aims to outline legal, regulatory and other details for the construction of the pipeline on Bulgarian territory, the government said.

According to its statement, the agreement for support is sealed as a way to facilitate financing by the private sector and the realization of the project. Bulgaria’s Bulgargaz is one of the shareholders in the Nabucco consortium, which also include Austria’s OMV, Hungary’s MOL, Romania’s Transgaz, Turkey’s Botas and Germany’s RWE. (BBJ)

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