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Official visit to Hungary statements made by M. Nicolas SARKOZY, President of the Republic, during his joint press conférence with Mr Ferenc GYURCSANY, Prime minister of Hungary - excerpts -

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Budapest, 14 September 2007

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NABUCCO PIPELINE PROJECT/ENERGY POLICY

Q. – (···) Is the French State committed to Gaz de France being involved in this project? (···)

THE PRESIDENT – We support the Nabucco project. What part can Gaz de France and Suez Energie play? This will have to be discussed. One of the French presidency's objectives will be a European energy policy. (···)

Q. – I'd like to ask you a question on energy. Isn't there a discrepancy between the major restructuring, particularly in France, in the field of energy, and the timid EU and particularly Commission's proposals, i.e. industrial policy on the one hand and small protective measures on the other? (···)

THE MINISTER – On energy, do I think we lack ambition? Yes of course, and I'm not alone in thinking this. Let's look at things. The price of a barrel [of oil] was over $80 this morning. When I was finance minister, in 2004 I vividly remember the face of one of my colleagues who'd brought me a document telling me that it was $42 a barrel, a record level! It has since doubled, in under three years. In 30 or 40 years' time there'll be no oil left. What do we do? In 100 years' time, there'll be no more gas. What do we do? We certainly won't just be installing wind farms! I've nothing against them, but who can say that they're equal to the challenge? And why shouldn't we, as European countries confronted with the same problems, lay the foundations of a genuine energy policy? With Nabucco, Hungary can be a real energy hub for Europe. Why deprive ourselves of it? Why not help? Why not consider it strategic for Europe's energy supply? After all, it's extremely important. I shall promote the message of renewable energy and nuclear energy. There's nuclear energy in Hungary and I proposed to the Prime Minister that we work together on this too. (···) France now has three international energy companies. This hasn't come about just by chance. This is a matter of vital importance for our country. Thank you.

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