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Launch of Nabucco Pipeline Open Season Process announced
NABUCCO Gas Pipeline International GmbH announced the launch of the Open Season process for capacity booking in the Nabucco pipeline. This first phase of the Open Season process offers potential shippers the possibility to register their interest in booking capacity in the pipeline and to request access to the Open Season documents, following which they can provide non-binding capacity bookings. The Open Season documents include the details of the Open Season process, the form of gas transportation agreement and the related network code, setting out the terms and conditions proposed by the transporter for transportation services through the Nabucco pipeline.
Reinhard Mitschek, CEO, NABUCCO Gas Pipeline International GmbH, said: “As development of the Nabucco project continues, we are pleased to be able to announce the achievement of this highly significant milestone. Once constructed, the Nabucco pipeline will offer producers and shippers access to the growing markets of South Eastern and Central Europe, as well as augmenting their access to the Central European Gas Hub at Baumgarten. The Open Season process will be conducted according to the principles of open access and supply diversification”.
Frank Siebert, CFO, NABUCCO Gas Pipeline International GmbH said: “The proposals laid out by the company are highly competitive, and commercially attractive. Based on ongoing discussions with producers and shippers, we have reason to be confident of a high level of interest in this phase of the Open Season process. The Open Season process will adhere to the highest standards of transparency whilst at the same time ensuring that information exchanged with potential shippers during the process is treated in confidence”.
The first phase of the-Open Season process is envisaged to be concluded by the end of Q 2 2013. Following the successful conclusion of this phase, shippers will be invited to submit binding bids. The initiation of the binding bid phase is foreseen to take place in Q 3 2013.
Please note that in order to provide for a certain level of flexibility, NABUCCO Gas Pipeline International GmbH reserves the right to extend or otherwise vary the timetable of the Open Season process.
The Nabucco pipeline is the shortest route to access the markets of South Eastern Europe. Only NABUCCO enables direct access to the entire Balkan market as well as to Italy and Greece.
The Nabucco pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Bulgarian border, transiting Hungary, Bulgaria and Romania to the Central European Gas Hub in Baumgarten, Austria. Via Baumgarten, gas from the Nabucco Pipeline can be transported to over 500 million customers across Europe.
The project´s comprehensive legal framework is fully established both in terms of ratified Intergovernmental Agreement and Project Support Agreements and exemptions from the 3rd Energy Package being in place.
The Nabucco pipeline offers a scalable concept and enables access to considerable storage capacity along the route. Environmental permits have already been obtained in Hungary, and are pending final approval in Romania and Bulgaria. Nabucco is notably the most technically advanced route, with one integrated operations and control system, ensuring the highest reliability and safety standards.