Press Release: President Barroso and Commissioner Piebalgs welcome the signature of the Nabucco Intergovernmental Agreement

President of the European Commission José Manuel Barroso and Energy Commissioner Andris Piebalgs welcomed the signature in Ankara on 6 July, 2009, of the Nabucco Intergovernmental Agreement, which sets out the terms and conditions under which gas can be exported from the Caspian Sea and the Middle East to the European Union and Turkey. Potentially Nabucco can supply up to 5-10% of European gas demand, but in countries that are currently 100% reliant on one external supply route, it will provide immediate tangible security of supply benefits.

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