Nabucco Gas Pipeline International GmbH welcomes today’s decision by the Council of the European Union to approve the mandate given to the European Commission to negotiate an agreement for the legal framework with Azerbaijan and Turkmenistan for a Trans-Caspian gas pipeline system.

Reinhard Mitschek, Nabucco Managing Director, commented: “This groundbreaking initiative taken by the European commission matches the aim of the Nabucco project to enable the transportation of a broad diversified gas portfolio. Following a multi sourcing approach, Nabucco will not be dependent on the construction of a potential Trans-Caspian pipeline. Nevertheless, it is a fact that the big potential for gas exports on both sides of the Caspian Sea is vital for the future of the European and Turkish gas markets. A large pipeline system established through Nabucco is tailor-made to contribute to export this large gas supply potential for the decades to come. Nabucco - the European flagship project - offers the most competitive export route for Caspian gas.”