search

About us



BRIEF HISTORY OF NABUCCO

  • February 2002: Initial discussions take place between OMV Gas & Power GmbH (Austria) and BOTAŞ (Turkey). Discussions with MOL, Budapest/Hungary, TRANSGAZ, Medias/Romania, and BULGARGAZ, Sofia/Bulgaria follow
  • October 2002: Cooperation Agreement between Botas, Bulgargaz, MOL, Transgaz and OMV Gas & Power GmbH leads to feasibility study for the construction of the new gas pipeline
  • December 2003: Grant Agreement between OMV Gas & Power GmbH, the other four partners as associated beneficiaries and the European Commission (hereafter EC)
  • 2004: Establishment of Nabucco Gas Pipeline International GmbH
  • 27 January 2009: Nabucco achieves full political support from the EU and Nabucco countries at the Budapest Summit
  • 13 July 2009: Intergovernmental Agreement (IGA) signed in Ankara by Austria, Hungary, Romania, Bulgaria and Turkey. The IGA harmonises the legal framework and grants stable and equal transport conditions for all partners and customers
  • 2010: National Nabucco Companies established in the transit countries
  • March 2010: Ratification of the IGA by National Parliaments
  • September 2011: Proposal for Nabucco Base Case submitted to Shah Deniz Consortium
  • October 2011: Bayerngas begins negotiations to become a member of the Nabucco consortium
  • May 2012: Proposal for Nabucco West submitted to Shah Deniz Consortium
  • June 2012: Nabucco West selected as Central European Delivery Route by Shah Deniz Consortium

NIC - Company Description

Nabucco Gas Pipeline International GmbH (NIC) was set up on 24 June 2004 to develop, construct and operate the Nabucco pipeline. Headquartered in Vienna, it is an unbundled midstream-company under EU law. NIC is owned by the Nabucco shareholders and is responsible for the development, construction, operation and capacity trading and allocation for the Nabucco pipeline. NIC will be the only company in direct contact with the shippers and will operate a one-stop-shop principle, operating as an independent economic entity in the market, and acting independently from its parent companies.

NIC operates in accordance with:

  1. The Law of each transit country
  2. EU Directives and relevant International Agreements
  3. ISO 14001, 9000 and 18000 Standards for Environmental, Quality and Safety Management Systems respectively.
  4. Best practice standards across the industry
  5. Specific safety and security standards

NIC is responsible for:

  1. The implementation and/or promotion of studies by engineers, economic, tax, legal and financial advisors with regards to the financing of the Nabucco gas pipeline
  2. The implementation of strategies where the objective is to encourage governments and the European Commission (EC) to create appropriate incentives for potential investors in the project
  3. The coordination and management of all public relations activity on behalf of the shareholders
  4. The negotiation and brokerage of contracts with potential shippers
  5. The agreement of transport contracts through the whole pipeline
  6. The financing of the Nabucco Gas Pipeline Project and the consolidation of any funding for the related Companies
  7. The establishment of affiliated Companies and the coordination of their activities
  8. The coordination and management of all subsequent phases of the Nabucco Gas Pipeline Project, including the Development Phase, the Construction Phase and the Operating & Marketing Phase
  9. All duties performed by a transmission system operator (TSO); acting as a holder of transmission rights for the Nabucco pipeline
  10. All telecommunications related activity and services