European Commission Proposes EUR 250 mln for Nabucco

European Commission has proposed EUR 250 million for Nabucco gas pipeline project as part of its EUR 3.5 billion energy investment proposal.

The proposal unveiled by the European Commission on January 28 needs approval of governments of EU-member states.

The Nabucco project, aimed at delivering of gas from the Caspian region to Europe via Georgia and Turkey bypassing Russia, was discussed at a high-level energy summit in Budapest this week. Nika Gilauri, the Georgia’s deputy PM and finance minister, led the Georgian delegation to the summit.

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