Nabucco Gas Pipe Accord Signed as Europe Looks Beyond Russia

(Bloomberg, 3 July 2009) European countries planning a pipeline to reduce reliance on Russian natural gas today sealed an agreement that may help companies led by OMV AG find customers for the 7.9 billion-euro ($11 billion) project... “The EBRD is already involved in discussions with other IFIs and commercial banks and export credit agencies to work together to structure a bankable project,” said Riccardo Puliti, EBRD’s energy group director.