Bulgarian government confirms commitment to Nabucco project
03/11/2009
SOFIA, Bulgaria -- The government confirmed on Monday (November 2nd) its commitment to the Nabucco pipeline project, following a visit by Joschka Fischer, the former German foreign minister who now represents the consortium of project participants RWE and OMV. Bulgarian Minister of Economy, Energy and Tourism Traycho Traykov insisted that the government would secure 300m euros to cover its contribution. He added that despite the financial crisis, there would always be money for this project, as it will diversify energy supplies and provide more energy independence. Bulgaria currently holds 16.5% in the project, and by agreement, each shareholder should cover 30% of the construction costs, while the rest will be raised through loans. The project, supported by both the EU and the United States, will set up a natural gas pipeline, providing supplies from Azerbaijan, Turkmenistan and Iraq. (BNR, 24 Chasa, bTV, BNT, Mediapool - 02/11/09)
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