Bulgarian Parliament Ratifies Nabucco Pipeline Deal

The Bulgarian parliament Wednesday ratified the European Union's Nabucco gas pipeline, which is designed to reduce Europe's reliance on Russian gas.
Πεμ, 4 Φεβρουαρίου 2010 - 19:11
The Bulgarian parliament Wednesday ratified the European Union's Nabucco gas pipeline, which is designed to reduce Europe's reliance on Russian gas.

Five countries--Austria, Bulgaria, Hungary, Romania and Turkey--all signed an agreement last July to go ahead with the EUR7.9 billion pipeline that will pump 31 billion cubic meters of gas each year from the Caspian Sea to Europe, starting in 2014.

But the deal also needs formal ratification by parliament and Bulgaria is the second country after Hungary to give it.

The Bulgarian parliament voted unanimously in favor of the deal in a vote Wednesday, with deputies saying Nabucco would enable Bulgaria to reduce its almost total dependence on Russian gas supplies and diversify its energy sources.