Romania’s interest in NABUCCO

Chairman of the Romanian Senate Mircea Geoana has stated that the NABUCCO pipeline is very important for both the foreign and domestic policy of Romania. He thinks that in the long run the implementation of this project will facilitate the welfare and security of the country, and stated that Romanian state company Transgaz has been given instructions to prepare a scheme for financing NABUCCO and give recommendations of what kind of changes should be made by the Romanian Parliament.

The Chairman of the Senate suggested that in order for the country to receive some profits from the project it should first invest in it. Romania understands that other countries are also interested in the implementation or not of this project, specifically Russia, so a balanced approach should be taken when implementing NABUCCO and other projects. Romania wants to maintain a balanced position so that the interests of all the sides are considered, including Russia’s, in order that the projects are less politicised and thus as commercially viable as possible.

Various companies from different countries are participating in the NABUCCO project, each holding 16.67% - Austria’s OMV, Hungary’s MOL, Bulgaria’s Bulgargaz, Romania’s Transgaz, Turkey’s Botash and Germany’s RWE. The EU is ready to allot up to EURO 200 million for the project. The pipeline’s route includes Romania and 460 km of pipeline will pass through it.

An alternative pipeline project from Russia, the so-called South Stream, is a joint Russian-Italian scheme. In this a pipe will be laid on the Black Sea bed from Russia to the Bulgarian port of Varna and then divide, one pipe going to Italy and another to Austria. This is considered the alternative route to NABUCCO as it serves a similar area but bypasses Ukraine and Turkey.