Nabucco shareholders to discuss project implementation in Vienna

Nabucco shareholders to discuss project implementation in Vienna Shareholders of Nabucco gas pipeline project will discuss project implementation issues at a meeting in Vienna on Tuesday. “We confirm that there is a regular shareholders meeting of the Nabucco shareholders in Vienna today. Shareholders meetings take place on a monthly basis and we discuss the project related topics,” Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline... Read More

Nabucco turns to Iraq

Nabucco turns to Iraq Nabucco consortium considers Nothern Iraqi gas as an option to secure future gas supply to Europe, Dow Jones Newswires reported on Wednesday with the reference to the project official representative. “Why shouldn’t we pipe gas from Northern Iraq,” Nabucco Gas Pipeline International GmbH spokesman, Christian Dolezal said. He stressed that Northern Iraq has huge potential as a gas producer. “We should explore... Read More

Romanian Transgaz to contribute to Nabucco’s budget

Romanian Transgaz to contribute to Nabucco’s budget The shareholders of Romanian National Gas Transmission Company Transgaz S.A. sanctioned a decision to contribute to the consolidated budget of Nabucco Gas Pipeline International GmbH (NIC), Romanian ACTMedia news agency reported with the reference to a statement sent to the Bucharest Stock Exchange on Friday. According to a decision, sanctioned by Ordinary General Shareholders Meeting of Transgaz... Read More

Nabucco submits environmental impact assessment report

Nabucco submits environmental impact assessment report Nabucco Gas Pipeline International submitted the Environmental Impact Assessment (EIA) Report to the Turkish Ministry of Environment and Urbanization. According to the statement of Nabucco Gas Pipeline International, published on its website, the EIA report for the 760 km long section between Ankara and Turkish-Bulgarian border was prepared according the format determined by the ministry in its... Read More

New appointment in Nabucco National Company Hungary

New appointment in Nabucco National Company Hungary Nabucco Gas Pipeline International GmbH appointed Gábor Bercsi as Managing Director of Nabucco National Company Hungary. Nabucco reported on Thursday that Bercsi has extensive experience in the energy sector. His previous position was a managing director of Sinergy Energy Service in Budapest, which is a subsidiary of German Utility RWE. Bercsi said that Nabucco project will bring more supply stability... Read More

Does Turkey’s energy deal with Russia affect Nabucco?

Does Turkey’s energy deal with Russia affect Nabucco? The latest energy agreement signed between Russia and Turkey will not affect the implementation of the Nabucco gas pipeline project, and on the contrary, will facilitate it, Turkish Energy Minister Taner Yildiz was quoted by Hurriyet newspaper as saying on Monday. “All the statements that implementation of the Nabucco project will slow down after the signing of the agreement on [Russian-backed]... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More

Opportunities to supply gas to Europe

Opportunities to supply gas to Europe Azerbaijan has all opportunities for supplying gas to Europe, the Foreign Affairs Minister of Azerbaijan Elmar Mammadyarov said in an interview to the Wall Street Journal. He explained that one idea to bring his country’s gas to Europe is to build a dedicated pipeline across Turkey to the border with the EU. It would then split up in two branches, one toward Greece and one to Bulgaria, where it would split... Read More