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Nabucco Committee gathers in Bucharest on Tuesday

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Nabucco Committee, a coordinating structure of the states and companies involved in developing the gas pipeline seeking to implement this important regional energy project will meet in the Romanian capital on Tuesday, the Romanian Foreign Ministry announced in a release.

Attending the meeting will be senior officials from Romania, Austria, Hungary, Bulgaria and Turkey, representatives for the Nabucco shareholding companies and for several international financial institutions, the ministry added.

The Bucharest event will mark the progress made on developing Nabucco and will reconfirm the political support the project benefits from the partner states, at a crucial phase in the assignment of the natural gas volumes from Shah Deniz field.

The event also seeks to stress the regional importance of Nabucco - the most adequate project for offering a high energy security degree to a constantly expanding market in Central and Southeastern Europe, the release said.

The meeting is organized by the Foreign Ministry, the Energy Department and Transgaz SA Romanian gas transport company.

Nabucco project aims to having access to the natural gas in the second exploitation phase of Shah Deniz deposit and transporting it to the European market. Romania is actively participating in implementing this project by Transgaz SA as well as on a governmental level by having signed the Inter-government Accord on the Nabucco Project Development in July 2009 and the Accord for Supporting the Project in June 2011.

Nabucco project, over the time of its development, has seen a range of outstanding achievements such as: its being selected as the main natural gas transport route in Central and Southeastern Europe, closing the collaboration agreement between Nabucco International Company and Shah Deniz Consortium aimed at achieving the two projects without delay and Nabucco Company's putting forward the official tender for the resources relating the second phase of the Shah Deniz deposit exploitation. A final decision of Shah Deniz Consortium is expected in this June, the ministry explained.

After the meeting in Kayseri, Turkey in 2011, in which Nabucco Committee was set up in line with Nabucco Inter-governmental Accord's Article no. 12, the committee held meetings in Vienna (2012), Sofia and Budapest (2013).

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