The European Investment Bank (EIB)is ready to help finance the 7.9 billion euro Nabucco pipeline and to look closely at the concept of creating a single gas purchaser to ensure the project is viable, the EIB says.
The EU and Turkey signed last week a transit deal for the pipeline which aims to reduce Europe's energy dependence on Russia with a new flow of gas from the Caspian and Middle East.
"When the project actually starts, we would be ready to fund the project and I think certainly our funding will be called upon to do that," says Christopher Hurst, Director for Energy and Transport at the European Investment Bank.