Bulgaria Wants to Be 1st Operational Link in Nabucco Pipeline

Energy | July 20, 2010, Tuesday // 17:24|  views

A Bulgaria-Turkey pipeline might become the first working section of Nabucco. Photo by files.wordpress.com

The establishing of the Bulgaria-Turkey natural gas pipeline should become the first functioning part of the EU project for the Nabucco pipeline, believes Bulgaria’s Economy Minister Traikov.

Traikov met Tuesday in Vienna with representatives of the senior management of the Austrian company OMV AG, which is one of the partners in the project, and with the CEO of the international project company Nabucco Gas Pipeline International, Reinhard Mitschek.

The Bulgarian Minister of Economy, Energy, and Tourism is in Vienna as part of a delegation led by Bulgarian PM Boyko Borisov.

In his talks with OMV and the Nabucco company, Traikov has suggested boosting the efforts to construct a natural gas pipeline connection between Bulgaria and Turkey, which can later become a part of the entire Nabucco pipeline.

“The realization of this pipeline link will practically turn into a start of the project which is going to provide Bulgaria and the EU as a whole with an access to the gas resources of the Caspian Region and the Middle East,” Traikov said.

The Austrian experts have presented to him the work of the Central European Gas Hub (CEGH), which is 80% owned by OMV, and discussed opportunities to set up a similar natural gas trade platform in Bulgaria.

According to Traikov, Austrian experience will be very important to Bulgaria which is seeking to expand its own gas storage facilities.

The Bulgarian Economy Minister has also met with the leaders of the Federation of Austrian Industry with the talks focusing on Austrian investments as Austria is the largest foreign investor in Bulgaria in the last 15 years.

“The bilateral dialogue has demonstrated that Bulgaria has the real opportunity to increase its weight in Europe thanks to its industrial potential at a time when Europe is increasingly being de-industrialized,” says the Bulgarian Economy Ministry in a statement.

Earlier on Tuesday Traikov met with Austria’s Finance Minister Josef Proell; the two signed a double taxation agreement.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: Nabucco, Traicho Traikov, Economy Minister, gas transit pipeline, gas pipeline, gas connection, Austria, Vienna, OMV, CEGH, Central European Gas Hub, Reinhard Mitschek, Josef Proell, double taxation


» Related Articles: