Press Releases

• Nabucco Gas Pipeline International Ltd., a consortium of international partners planning and constructing the Nabucco Gas Pipeline, appoints British company Penspen as owner's engineer for coordinating the detailed planning of the project
• Four national Nabucco companies already founded in 2007

Reinhard Mitschek, Managing Director Nabucco Gas Pipeline International Ltd, commented: "The Nabucco project is reaching the stage of actual realisation. By commissioning the owner's engineer an essential milestone has been set for the pipeline project. The detailed technical planning has now started." In a European wide tender procedure the British Penspen-Group was appointed. The average of the contract value is EUR 9 mn.

The owner's engineer is responsible for coordinating the entire detailed technical planning for the pipeline project, Mitschek added. In a further step, local engineers will be included for realising more detailed plans. The result delivered will form the basis for the official approvals, the output  and quality specifications and for negotiations with suppliers. In addition, the work of the owner's engineer is a substantial part of the environmental and social impact evaluation, in which the financing institutions are involved in from the start.

The owner's engineer will start work in January. The main planning elements are to be completed by the end of the year. The national Nabucco companies in the individual partner countries (wholly owned subsidiaries of Nabucco Gas Pipeline International GmbH) will subsequently coordinate the detailed planning in the respective countries. "The foundation of the national Nabucco companies was another important landmark in 2007. Four companies have already been founded, the fifth subsidiary in Turkey is in the process of being founded", Mitschek explained.

In the future, Europe will need far more energy than it has until now. The Nabucco project is our solution. " With its international route, the Nabucco pipeline is an important European infrastructure project, connecting Turkey, Bulgaria, Romania, Hungary and Austria. With the assignment of the owner's engineer and the beginning of the detailed planning we are getting closer to realisation", Mitschek stressed.

The Nabucco project is one of Europe's most important energy infrastructure project for strengthening Europe's security of supply for natural gas, as it contributes substantially to diversifying existing supply routes. The pipeline connects the large gas deposits in the Caspian region, the Middle East and Egypt with Europe. The investment costs will amount to approximately EUR 5 bn. When completed, the pipeline's annual capacity will be 31 bcm. Shareholders nowadays are OMV, MOL, Transgaz, Bulgargaz Holding and BOTAS.