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October 5, 2022

President Basescu green lights Nabucco Treaty Accord

President Traian Basescu signed on Friday a decree that promulgates the Law on the ratification of the Nabucco Project accord between Austria, Bulgaria, Hungary, Romania and Turkey, signed in Ankara on July 13, 2009, Mediafax reports.

“We are the only country that kept its firm stance for Nabucco and we have the ratification accord in Parliament, as we are the last country among those that signed the accord which had not ratified it so far,” Basescu said.

In retort, Senate Speaker Mircea Geoana wrote last week on his blog that the Senate ratified the accord for the Nabucco project last week, adding that he mentioned this “to keep the head of state correctly informed.”

Nabucco is a projected gas pipeline that will make the European Union less dependent from imported Russian natural gas. Its 412 km-long Bulgarian segment is scheduled for completion in October or November 2011, according to Krikor Topakbashiyan, CEO of Himcomplekt Engineering, the company that develops the European project in Bulgaria. Nabucco will stretch upon nearly 3,300 km, most of it in Turkey – 2,000 km, then it will cross Bulgaria (400 km), Romania (460 km), Hungary (390 km) and Austria (46 km). When completed, it will have a total transport capacity of 31 billion cubic metres a year. The pipeline will take natural gas from Caspian and Middle East regions to consumers in Europe, through Turkey, Bulgaria, Romania, Hungary and Austria.

Political hotspots Iraq and Iran will have to supply gas to the European Union if the EUR 7.9bln Nabucco pipeline is to go ahead, Azerbaijan Energy Minister Natiq Aliyev has warned, according to ‘The Independent.’ However, Aliyev said the project’s shareholders will not hit its target to start construction next year. “In a few years, when the Iran and Iraq situation is more stable politically, we will be able to implement the Nabucco project speedily,” he said.

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