Brussels, 08/06/2011 (Agence Europe) - The signing of project support agreements (PSAs) for the pan-European Nabucco gas pipeline project among the transit countries and energy companies involved has put the finishing touches to the legal framework for Nabucco and is a further stage in the building of the pipeline from Turkey to Austria to transport gas from the Caspian Sea area, central Asia and Iraq to the EU by 2017.
The energy ministers of the transit countries for the Nabucco pipeline - Austria, Bulgaria, Hungary, Romania and Turkey - and the energy companies involved - ÖMV of Austria, Bulgargaz of Bulgaria, MOL of Hungary, Transgaz of Romania, Botas of Turkey and RWE of Germany, each of which companies holds a 16.67% stake in the project - signed project support agreements in Kayzeri (Turkey) on Wednesday 8 June. The PSAs are needed alongside the intergovernmental deal signed in July 2009 (see EUROPE 9941-9942), to put the agreement into practice, dealing with practical aspects and construction standards and details of how the long-term operation of the pipeline will be organised for each of the participant countries. The PSAs cover affirmation of gas sector exemptions and freedom of transit; state facilitation through law change or administrative acts; protection from discriminatory changes in law, including expropriation; administrative facilitation; harmonisation of social, environmental and technical standards and land purchase rights; removal of restrictions to the import and export of equipment and services; and the future gas flow. (E.H./transl.fl)