Romania Calls for Return of Nabucco Investments

Romania’s President Traian Băsescu asked his ambassadors to push the EU to compensate Bucharest for the 23 million euro lost in investments on the Nabucco West gas pipeline project.

Băsescu claims that his country is entitled to receive compensation given its firm endorsement to the Nabucco project. Romanian company Transgaz, a partner of the Nabucco consortium, has spent 23 million in the project. 

“Bear in mind that Romania, supporting this European project, didn’t hesitate between South Stream and Nabucco, and simply said Nabucco,” said Băsescu.

The European Commission denied any pressure on any EU country for a particular pipeline. Marlene Holzner, spokesperson to Energy Commissioner Gunther Oettinger, explained that Shah Deniz consortium took the decision independently on commercial calculations.

The Nabucco West project was rejected by Shah Deniz II consortium that preferred the Trans Adriatic Pipeline (TAP) to carry Azerbaijan's natural gas to Europe.

TAP, that will run through Greece and Albania to Italy, is fronted by Statoil, AXPO and E.ON Ruhrgas. Nabucco West would have run from the Turkish-Bulgarian border to a gas hub near Vienna, Austria. The pipeline would have passed through Bulgaria, Romani and Hungary. The Nabucco shareholders were Bulgarian Energy Holding (Bulgaria), Botas (Turkey), FGSZ1 (Hungary), OMV (Austria) and Transgaz (Romania).