Gaz de France will be involved in the Nabucco project, official says

Basescu noted Romania will support Gaz De France’s involvement in the Nabucco project. This refers to the construction of a 3.300 kilometers long pipeline which will transport gas from the Middle East and Asia to EU countries.

The pipeline will traverse several southeastern European countries. Turkey, Bulgaria, Hungary, Austria and Romania associated towards the construction of the pipeline, in a move to cut dependency from Russia’s gas.

The Nabucco pipeline should be completed by 2012. Russia covers approximately a quarter of EU's power consumption and the level of Europe's consumption is estimated to increase in the coming years, reaching 720 billion cubic meters in 2015 from 500 billion cubic meters in 2005.

Source: NewsIn