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30.09.2011 14:52
Bayerngas Enters Nabucco Pipeline Project
Negotiations with the six current shareholders will begin immediately to determine the future share split within the consortium
AUTHOR: publics.bg


  • © Nabucco Gas Pipeline

Nabucco Gas Pipeline International GmbH welcomes Bayerngas’ intent on becoming one of the Nabucco shareholders. Negotiations with the six current shareholders will begin immediately to determine the future share split within the consortium. Bayerngas’ intention to join the Nabucco consortium will be discussed at a meeting between the Austrian Minister of Economy, Dr. Reinhold Mitterlehner and the Bavarian State Minister for Economy, Mr Martin Zeil in Vienna today. 
 
Reinhard Mitschek, Managing Director, NABUCCO Gas Pipeline International GmbH, stated: “This is a great step forward for Nabucco. A strong downstream market is an important asset for the pipeline and something that a new shareholder such as Bayerngas will be able to strengthen. The Nabucco consortium is open to new shareholders as the project enters a new advanced phase. The start of negotiations with Bayerngas sends a strong message to the markets.”
 
Nabucco will directly connect the world’s richest gas regions - the Caspian region and the Middle East, to the European consumer markets. The pipeline will link the Eastern border of Turkey, to Baumgarten in Austria - one of the most important gas turntables in Central Europe - via Bulgaria, Romania and Hungary.
 
The Nabucco shareholders are: OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgarian Energy Holding (Bulgaria), Botas (Turkey) and RWE (Germany). Each shareholder holds an equal share of 16.67% of Nabucco Gas Pipeline International GmbH. It is the shareholders who are responsible for the negotiation of gas contracts.

TAGS: Bayerngas | Nabuuco | gas pipeline | shareholder | Nabucco Gas Pipeline International GmbH | Caspian gas 


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