Work on pipeline for transporting Caspian, Middle East gas to EU gets underway
Work on a pipeline designed to transport natural gas from the Caspian region and the Middle East to the European Union (EU) has begun, a Romanian newspaper reported Friday. The Nabucco Gas Pipeline International starts in the Caspian region and the Middle East, and will cross Turkey, Bulgaria, Romania, Hungary and Austria where the gas will be distributed to France, Germany and other EU countries via the existent pipelines, said the Truth newspaper. The grand project will cost 5 billion euros (around 6.25 billion US dollars), which will be split between the five countries the pipeline passes through. It has the capacity to transport 25 billion cubic meters of gas a year. The pipeline has important strategic and economic significance as it offers an alternative to gas from Russia and will shake Russia's monopoly and control over gas supply to Romania, the newspaper said. The 2,841-km-long pipeline, including 457 km through Romania, was initiated by the European Parliament and the European Council on June 26, 2003, and is to be finished in 2010.
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