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Nabucco project agreement could be signed in H1 of 2009

An inter-governmental agreement in support of the Nabucco pipeline project could be signed in Ankara, Turkey, during the first half of 2009, Bulgaria's Nabucco pipeline envoy Dimiter Ikonomov said at an ad hoc Hungarian parliamentary-committee meeting.

Hungary's envoy for the pipeline project, Mihály Bayer, told the ad hoc parliamentary committee that the a draft of the inter-governmental agreement stipulating the operational and legal conditions surrounding the pipeline could be completed at any time.

Bayer added that the global financial and economic crisis has not yet had an impact on the project.

Bayer told the ad hoc committee that the issue of when the inter-governmental agreement will be signed depends largely on Turkey. Bayer noted that Turkish representatives taking part in an energy summit in Baku, Azerbaijan in the middle of November had indicated that the Turkish government has the political will to complete the pipeline.

Bayer said that Hungary's government is likely to declare construction of the Nabucco pipeline to be a cardinal project after the signing of the inter-governmental agreement, thus exempting it from the prescribed 18-month assessment period. (MTI – Econews)