The 3,300 km long pipeline would cover Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria.

June 05, 2010 (Hamsayeh.Net) - Ankara has finally ratified Nabucco gas pipeline agreement that will deliver Caspian basin countries natural gas to Europe. Iran, Central Asian republics Azerbaijan would be the main supplier of their natural gas to European countries currently dependent on sole supplier Russia to provide gas for the energy hungry continent.

‘After publishing on June 4 in the official newspaper of the corresponding order by the Cabinet of Ministers, the process of ratifying the agreement in our country has been completed,’ a statement by Turkish government read.

The 3,300 km long pipeline would cover Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria. The construction project is estimates at close to $8 billion to pump initially 30 billion cubic meter of gas annually with potential to double the supply afterwards.  

Turkish company Botas will join Bulgarian Energy Holding, Hungary’s MOL Plc., Austria OMV Gas &Power Gmbh, Germany’s RWE and Romania’s Transgaz. Each participant would have 16.67 % shares in the project.