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Power giants bid for Nabucco

Date: 27.01.2006

Power giants are interested in the Nabucco project. These are the German E.ON and RWE, the French Total and Gas de France as well as Japanese companies, according to Bulgargaz head Kiril Gegov. He believes at least two large European power companies will take part in the project, their shares being smaller than those of the project founders.

Bulgargaz insists on accelerated construction of the pipeline from Iran, Turkmenistan and Azerbaijan via Turkey and Bulgaria towards Central and Western Europe. Over 400 million euro will be necessary for the construction of the Bulgarian part of the pipeline.

The first stage of the pipeline is planned to be completed in 2011 and the whole project in 2017.

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