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Nabucco project can enjoy support from Eastern Partnership

BAKU. September 18. KAZINFORM. The European Union is ready to support realization of the Nabucco gas pipeline project under the Eastern Partnership if it is needed, Giovanni Cremonini, Administrator of the European Neighborhood Policy, said at a news conference in Baku on Sept. 17; Kazinform refers to Today.Az. "We view positively the intergovernmental agreement signed in July 13," Cremonini said. "We are ready to provide technical, financial or any other kind of political assistance to resolve politically priority issues. So, we are interested in improving the EU's energy supply." The Eastern Partnership is the Polish-Swedish initiative in the neighborhood policy, aimed at improving the EU's relations with the post-Soviet countries. The program was approved at a meeting of the EU on March 20. Eastern Partnership will cover the six countries neighboring the European Union: Azerbaijan, Armenia, Georgia, Moldova, Ukraine and Belarus. The program targets assisting talks on establishment of free economic zones and agriculture products, as well as partner and visa agreements. The Nabucco project worth 7.9 billion euro will deliver Azerbaijani and Central Asian gas to the EU. Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.67 percent each. Construction of the pipeline is expected to begin in 2011 and the first supplies - in 2014. Its maximum capacity will be 31 billion cubic meters per year. An investment solution on the project will be made in the first quarter of 2010. The Nabucco Gas Pipeline International will invest 30 percent of the project on basis of its share. The remaining 70 percent will be provided by international institutions; Kazinform cites Today.Az.


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