Moderate optimism in Nabucco project development. Russian involvement still possible

The Nabucco natural gas pipeline is still one of the main European energy projects, as long as it represents an alternative able to ensure the energy independence in the European Union, a forum in Prague concluded. Two more pre-launching steps could be taken in the project before the end of November.

„We intend to launch the project according to the existing schedule, in 2010”, said the Research & Engineering manager in the Romanian national gas transport company, Transgaz, at the end of the natural gas forum in Prague. „New steps will be taken this month, namely the selection of local companies to take care of the construction of the pipeline and an agreement on the way inter-governmental agreements will take shape”.

The Romanian expert ensured listeners that the money required for the project, some 7.9 billion Euros, will be attracted from international financial institutions and commercial banks.

The Nabucco pipeline will transport natural gas from the Caspian Sea and Central Asia towards Western Europe. Gas suppliers may include Egypt and even Russia, despite the launching of the South Stream project.