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Romanian Transgaz can Transfer 10.2 Mln Euros to Nabucco Consortium’s Budget |
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Monday, 9 January 2012Romanian National Gas Transmission Company Transgaz S.A. can transfer 10.2 million euros to the Nabucco Gas Pipeline International's consolidated budget for the first half of 2012, Nine o'clock reported with the reference to Mediafax.
According to the report submitted to the Stock Exchange, this proposal will be analyzed by Transgaz shareholders on Feb. 10. Appropriated funds will be used for operation and development costs of the project.
Transgaz is one of the six shareholders in Nabucco gas pipeline project, which is designed to transport gas from the Caspian region and Middle East to the European countries. The gas to be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for Nabucco.
The other project's partners include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Turkish Botas and the German RWE. Each of participants has equal share in the amount of 16.67 percent.
The estimated cost of the project is 7.9 billion euro. The shareholders will invest 30 percent of total cost of the project, the rest 70 percent will be paid owing to loans.
The construction is planned to start in 2013 and the first supplies will start in 2017. |
Monday, 9 January 2012
Trend AZ
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