Six European companies have been included in Bulgargas’ short list for chief engineer of the Nabucco gas pipeline on the territory of Bulgaria , the executive director of Bulgargas Kiril Gegov explained. The engineer will be selected at a meeting of the selection committee on November 2. Separately, Mr. Gegov also explained that the project company that has been established as a shareholding of the national gas companies of the five participating companies in Nabucco – Turkey , Bulgaria , Romania , Hungary and Austria is currently prearing to bid for a EUR 3.5-4bn loan that will provide some 70% of the financing needed for the pipe. The rest of 30% is planned to be provided by the shareholders in the project company (Bulgargas being Bulgaria ’s shareholder there). According to Mr. Gegov, Bulgargas would not face difficulties to cover its share of the financing. The Nabucco pipe is much relied on to reduce Europe ’s gas supply dependence on Russia as it will be fed with gas from the Caspian basin (primarily Azerbaijan and Iran , but Kazakhstan may also join in). It is expected to start operating around 2010. Yet it is worth noting that for Bulgaria , Nabucco will at best cover some 30-40% of its consumption in its first years of operation, according to current plans. This in turn makes is a viable, but insufficient source of alternative supplies of gas for the country.