The legal framework for the Nabucco pipeline was finalized on June 9 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 Nabucco pipeline will directly connect the world's richest gas regions - the Caspian region and the Middle East - to the European consumer markets.
The PSAs are bilateral, legal agreements specific to and between the Nabucco companies and the government of each transit country. They represent a significant step in the advanced development stage of the Nabucco pipeline. The PSAs also mark a commitment by each government to support the project.
Together with the Intergovernmental Agreement, the PSAs are a necessary prerequisite for the successful financing of the project.
The Nabucco shareholders holding an equal share of 16.67 percent are OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgarian Energy Holding (Bulgaria), Botas (Turkey) and RWE (Germany).
With the project being completed, the line is expected to transport 8 to 10 billion cubic meters of gas in its first stage, later increasing to 30 billion cubic meters of gas.
Almost 65 percent of the pipeline will go through Turkey. Significant quantities of iron and steel and pipe components will be used in the construction of the Nabucco pipeline.