Thursday, January 10, 2013 11:14 am
Caspian Sea gas consortium to buy half of Nabucco
The Associated Press
The acquisition will be finalized in Vienna on Jan. 18, Bulgarian Energy Minister Delyan Dobrev said Thursday at a meeting of Nabucco shareholders. The remaining 50 percent will be split equally between the current shareholders, the state gas companies from Bulgaria, Turkey, Austria, Germany, Hungary and Romania.
The deal would breathe new life into the European Union-backed pipeline project, which aims to ship 16 billion cubic meter of Caspian gas from Turkey's border with Bulgaria to a hub in Austria by 2018.
Europe hopes it will reduce its dependence on Russian gas.