VIENNA, Sept. 30 (UPI) -- The expression of interest from German energy company Bayerngas in the Nabucco pipeline consortium is a "great step forward," an executive said.
The Nabucco natural gas pipeline consortium, which has headquarters in Vienna, announced talks would begin "immediately" to consider the split of stakes in the consortium following Bayerngas's statement of intent.
"This is a great step forward for Nabucco," consortium Managing Director Reinhard Mitschek said in a statement. "A strong downstream market is an important asset for the pipeline and something that a new shareholder such as Bayerngas will be able to strengthen."
Europe is trying to break the Russian grip on the regional energy sector through a series of transit networks in the so-called Southern Corridor, which includes the Nabucco pipeline.
The pipeline would rely on suppliers in the Middle East and Caspian regions, notably Azerbaijan, and pass through Turkish territory to Europe.
Azerbaijan recently pledged support for the project. In May, however, it was announced that construction was delayed by one year to 2013 and gas deliveries weren't expected until 2017 because of supplier timelines.
Baku had said pipeline groups involved in the proposed Italy-Greece natural gas interconnector, Trans-Adriatic Pipeline and Nabucco are called on to provide it with information regarding the transit of its natural gas to Europe by October.
