EIB to secure funds for Nabucco

The Romanian government has started initial talks with the European Investment Bank to get funds for state-owned natural gas grid operator Transgaz to help build the Nabucco Pipeline. "It's too early to discuss details of the possible fin-ancing aid, but I can say we have started discussions with the government about this," Millena Messori, head of the EIB office in Bucharest, said in an interview. Raiffeisen Bank International said on June 8 that Transgaz will have to contribute as much as 50 million lei (Dh61 million) to Nabucco this year to cover operating and pipeline expenses and another 30 million lei next year. Nabucco is intended to transport natural gas through Europe from the Caspian region. The pipeline, a joint venture of Transgaz, Germany's RWE, Vienna-based OMV, Budapest-based Mol Nyrt., Bulgargaz EAD and Ankara-based Boru Hatlari ile Petrol Tasima, is designed to carry gas more than 3,900km from Turkey to Austria to reduce European dependence on Russia. From / Gulf News