- The Project Support Agreements will be signed in Turkey by the Nabucco companies and by the governments in the countries that the pipeline will transit through.
- The aforementioned agreements will ensure the protection of the Nabucco pipeline against any discriminatory changes in legislation.
- The signing is a significant step in the advanced stage for the development of the Nabucco pipeline.
- The Project Support Agreements for the Nabucco pipeline were completed and will b e signed by the Nabucco companies and by the ministries of the 5 transit countries (Austria, Bulgaria, Hungary, Romania and Turkey) as part of an official event that will take place in Kayseri, Turkey, on June 8th.
Reinhard Mitschek, Managing Director of Nabucco Pipeline International GmbH, said: "The Project Support Agreements are an important step towards the advanced development stage of the Nabucco pipeline.
Together with the Intergovernmental agreement, these agreements are required to ensure successful financing of the project\".
The main elements of the PSA are the affirmation of an advantageous regulatory transit regime under EU and Turkish energy law, the protection of the Nabucco pipeline from potential discriminatory law changes, and support for legislative and administrative actions to further implementation of the project. The PSA also marks a commitment of each government to support the project.
- The Project Support Agreements are based on the current legislation and they are protecting the Nabucco project against new laws, which could have a negative impact.
* About Nabucco
Nabucco is the new bridge for natural gas between Asia and Europe. It will directly connect the regions which are the richest in natural gas - the Caspian region and the Middle East, with the gas consumers of Europe. The pipeline will connect the Eastern
