Deal on Nabucco project scheduled for Monday in Ankara
BRUSSELS. July 10 (Interfax) - The signing of an intergovernmental agreement on the Nabucco gas pipeline project between Turkey and four European Union members, Bulgaria, Romania, Hungary, and Austria, is planned for Monday, July 13, in Ankara.
The pipeline will run between eastern and southern Turkey and Austria's Baumgarten through the territories of all the signatories to the agreement, the European Commission said in a statement in Brussels on Friday.
The document will set timelines and conditions for gas exports from the Caspian Sea and the Middle East to the EU and Turkey. Nabucco could potentially provide from 5% to 10% of gas needed by the EU.
European Commission President Jose Manuel Barroso said in this connection that the Nabucco project is critically important for European energy security and the policy of diversification of gas supplies and transportation routes.