Iraqi Prime Minister Arrives In Turkey

ANKARA - The Iraqi prime minister arrived in the Turkish capital of Ankara on Monday.

Iraq's Prime Minister Nuri al-Maliki will participate in the signature ceremony of the Nabucco project.

The Nabucco project represents a new gas pipeline connecting the Caspian region, Middle East and Egypt via Turkey, Bulgaria, Romania, Hungary with Austria and further on with the Central and Western European gas markets.

The pipeline length is approximately 3,300 km, starting at the Georgian/Turkish and/or Iranian/Turkish border respectively, leading to Baumgarten in Austria.

The Nabucco pipeline is expected to reduce EU's natural gas dependence on Russia.

According to market studies, the Nabucco pipeline has been designed to transport a maximum amount of 31 bcm/y.

Estimated investment costs, including financing costs for a complete new pipeline system, amount to approximately 7.9 billion Euro.

The project has six share-holders: BOTAS (Turkey), Bulgargaz (Bulgaria), Transgaz (Romania), MOL (Hungary), OMV (Austria) and RWE (Germany).

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