(Agence France-Presse), March 5–Turkey’s Parliament on Thursday ratified an accord to build the European Union’s flagship Nabucco gas pipeline, Anatolia news agency reported.

The deal, aimed at reducing Europe’s reliance on Russian gas, was signed by five countries – Austria, Bulgaria, Hungary, Romania and Turkey – in Ankara in July.

The pipeline, spanning 3,300 kilometers, is planned to become operational in 2014 at an estimated cost of 7.9 billion Euros ($10.7 billion), carrying gas from the Caspian Sea to Austria via Turkey and the Balkans, bypassing Russia.

Last month, a spokesman for the consortium developing the project said 2010 would be crucial for securing the financing to build the pipeline.

The Bulgarian and Hungarian parliaments have also ratified the accord.

The Nabucco consortium comprises RWE of Germany, OMV of Austria, Botaş of Turkey, Bulgargaz of Bulgaria, MOL of Hungary and Transgaz of Romania.

Photo credit: Syria Comment