Romania PM Says Nabucco Gas Pipeline Project Viable

Speaking at an energy summit in Hungary’s capital Budapest, Boc said the global downturn took its toll on the energy sector as well, as many investments have been delayed, particularly in the oil and gas industry.

Boc urged for a better cooperation between the states in Central and Eastern Europe, as well as for a bigger support from the EU.

The Romanian dignitary said Romania has recently signed partnership agreements with Georgia and Azerbaijan to co-operate in the energy field, adding that the country mulls similar accords with other countries in the region.

„Another important objective for Romania’s energy strategy is to extend the interconnection between the country’s energy and grids and the grids in neighboring states,” Boc said.

The Nabucco pipeline, whose construction is estimated at around EUR8 billion, is scheduled to deliver approximately 31 billion cubic meters of gas annually from the Caspian Sea to Central Europe via Turkey and Romania, bypassing Russia. Romania’s state-run gas pipeline operator Transgaz (TGN.RO) is one of the shareholders of the consortium developing Nabucco.