Nabucco Legal Framework Finalized

EnergyOil & Gas ♦ Published: June 8, 2011; 16:32 ♦ (Vindobona)

Project support agreements were signed by each transit country. They are a prerequisite for the successful financing of the pipeline.

Nabucco Legal Framework Finalized / Picture: ©

The legal framework for the Nabucco Pipeline has been finalized with the signing - in Kayseri, Turkey - of the Project Support Agreements (PSAs) between Nabucco Gas Pipeline International GmbH and the responsible ministries of the five transit countries (Austria, Bulgaria, Hungary, Romania and Turkey).

The PSAs are bilateral, legal agreements specific to and between the Nabucco…