Caspian Sea gas consortium to buy half of Nabucco   

An international consortium developing a major natural gas field in the Caspian Sea has agreed in principle to acquire 50 percent of the company operating the Nabucco pipeline, a major project to bring gas to Europe. The acquisition will be finalized in Vienna on Jan. 18, Bulgarian Energy Minister Delyan Dobrev said Thursday at a meeting of Nabucco shareholders. The remaining 50 percent will be split equally between the current shareholders, the state gas companies from Bulgaria, Turkey, Austria, Germany, Hungary and Romania.

Bulgaria said to begin construction in its territory in mid-2013 may, Bulgarian Prime Minister Boyko Borisov said at the first meeting of the Nabucco Political Committee, Sofia-based Ukrinform correspondent reported on Thursday.
"By mid-2013 we will be ready to begin construction of the Nabucco gas pipeline in Bulgarian territory. And we will build it. All who want to participate in this project - you are welcome! This is a real alternative, it is the possibility of true diversification [of gas - ed.]. This is to break the monopoly," Borisov told the participants.

According to the Prime Minister, Bulgaria is the "engine of the project." The country has prepared all the documents for the construction of the pipeline in its territory, and it is - 424 km. Since a final investment decision on the construction of the Nabucco gas pipeline is still pending, Bulgaria will start to build its own section.