Nabucco gas pipe needs serious efforts in order for the project to be delivered, Romanian minister for Foreign Affairs says. Elsewhere in the news, Romania is to conclude 2009 with a 7% economic decrease. Last but not least, the Social-Democratic leader is a luxury homeless.
Nabucco gas pipe needs serious efforts in order for the project to be delivered, Romanian minister for Foreign Affairs Cristian Diaconescu stated, Adevarul informs. Nabucco is meant to relax EU's gas dependency from Russian gas, by connecting the Caspian Sea with Austria, passing through Turkey, Bulgaria, Romania and Hungary, crossing 3,300 kilometres.
Azerbaijan, Turkmenistan, Kazakhstan, Iran and Iraq could all contribute with gas. Nabucco consortium is made up by OMV (Austria), MOL (Hungary), Bulgargaz (Bulgaria), Transgaz (Romania), Botaş (Turkey) şi RWE (Germany), each with 16.67%. Azerbaijan, Georgia, Turkey and Egypt signed an agreement in May to speed up the regional pipe network construction, including Nabucco. EU will finance the project with 200 million euros.
Diaconescu said that finalising the project will take great energetic and financial resources. "There are surely other energy projects in Europe at the moment. All states, including Romania and Italy, are currently exploring the options", he added. Diaconescu met with his homologue Franco Frattini in Bucharest on Tuesday. Italy is one of the states to benefit from Nabucco's competitor, South Stream. The South Stream pipe will go under the Black Sea, connecting Russia and Bulgaria. From there, it will split into the North-West wing - towards Austria - and the South wing - towards Greece and Italy.
Cotidianul reads Romania is to conclude 2009 with a 7% economic decrease. According to Romania's representative at the International Monetary Fund (IMF), Mihai Tanasescu, this is the last c
