5/11/2009

Turkey agrees to complete Nabucco accord by the end of June

Bloomberg - Turkey has agreed to complete talks on an intergovernmental agreement on the Nabucco gas pipeline project and sign an accord by the end of next month. The pledge came in a statement released in Prague by the Czech presidency of the EU following a meeting between European Union officials and leaders from Turkey and five Central Asian countries. The pipeline is designed to carry gas from the Caspian region to Europe via Turkey and Austria. The EU and Turkey agreed “to finish the negotiations of the intergovernmental agreement on Nabucco as quickly as possible” and “to sign it by the end of June 2009 in Turkey,” said the Czech presidency. Jose Manuel Barroso, President of the EU Commission, told reporters after the meeting that he is “confident” Turkey will sign a gas transit deal soon. Andris Piebalgs, the Energy Commissioner of the EU, said talks with Turkey “have very much progressed.” Gas will start pumping through Nabucco to Europe by 2015, two years later than scheduled, as more time is needed to obtain gas commitments, said Andris Piebalgs in January.