Sunday 19 July 2009

Nabucco pipeline gains support

Support for the Nabucco pipeline has gained momentum in the past few days after a five-nation accord was signed on the project to ship central Asian and Middle-Eastern gas to Europe, bypassing Russia.

The pipeline’s future remains uncertain because it has yet to receive commitments from gas suppliers or customers, but several countries in the past few days have said they want to supply gas to, or buy it from, Nabucco, or help fund the €7.9 billion (Dh40.89bn) project.

On Friday, the US special envoy for Eurasian energy, Richard Morningstar, said Washington would help secure gas for Nabucco by organising meetings between Nabucco consortium officials, potential supplier countries and contractors.

No comments:

Post a Comment