Five countries sign Nabucco pipeline agreement

Premium Content

13 July 2009

The governments of Austria, Bulgaria, Hungary, Romania and Turkey have signed an agreement to build the 3300 km Nabucco pipeline. The € 8 billion project will allow natural gas to be exported from the Caspian Sea and Middle East to the EU.

The pipeline wil run from Ankara in Turkey to Baumgarten in Austria via Bulgaria, Romania and Hungary. From Turkey, further spurs are expected to be built to gas-rich countries on the Caspian Sea such as Iran and Azerbaijan, as well as others such as Iraq.

It is hoped construction wil get underway in 2011, with the first gas flowing in 2014. According to the European Commission, the pipeline could supply between 5% and 10% of Europe's natural gas demand.

However, before that can happen the desgin has to be completed, trading agreements finalised and funding secured.

Truckstop.com and ProMiles partner up to streamline heavy haul quoting
Truckstop.com and ProMiles have expanded the Heavy Haul Load Board with route-based quoting for oversize and overweight freight.
SCRA issues statement on tariff ruling by Supreme Court
Industry association comments on US ruling overturning import tariffs
Mi-Jack acquires new facility in Illinois, USA
New 200,000 square-foot production facility to meet critical capacity needs