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European Council Sets Financing For Nabucco – Romanian President

Romanian President Traian Basescu said Friday in Brussels that the European Council approved the financing for the Nabucco project, and for the interconnecting pipeline between Romanian and Hungarian gas transport systems.
European Council Sets Financing For Nabucco - Romanian President
20 mart. 2009, 15:25, English

“The financing was established for both Nabucco project, declared a priority, and the interconnection between gas transport systems of Romania and Hungary. Also, the connection between Romanian and Bulgarian gas transit systems will also be financed from EU funds,” Basescu said.

He added Romania is also interested in the connection between the gas systems of Hungary and the Czech Republic, as it would link Romania with the German gas system.

Basescu said that other projects are grouped in an exclusively-EU financed program.

The overall program is worth EUR5 billion and aims for the development of the EU’s energy infrastructure, the president also said.