Europe's grand plan for a gas pipeline from the Caspian Sea that would make its eastern states less reliant on Russia may have been fatally undermined by Russia's even bigger project.
As Azerbaijan nears a decision on whic
The Nabucco pipeline to carry Caspian gas to Europe and ease its reliance on Russian supplies will open in 2017, two years later than planned, and cost more than its target of 7.9 billion euro ($11.48 billion).
Its builders on Friday delay
The EU-backed gas group Nabucco said Iraq was its most viable partner for future gas deliveries and stepped up pressure on Azerbaijan, saying Baku should not be tempted by offers based on higher prices alone.
'Iraq is probably the most
Iraq's oil ministry said on Sunday the agreement Germany's RWE signed with the Kurdish Regional Government, which included possible future gas supply for the Nabucco pipeline project, is illegal.
"The export of crude oil, gas and their der
Abu Dhabi's investment fund IPIC is considering taking a stake in the planned Nabucco pipeline that is supposed to deliver gas from the Caspian region to Europe, an Austrian newspaper reported.
IPIC, which owns a stake of Nabucco leade
Turkey and Azerbaijan signed on Monday a memorandum of understanding on natural gas, opening the way for Azeri gas exports to Europe and putting the EU-backed Nabucco pipeline one step closer to securing supplies.
The deal also gives Turke
Ankara is nearing a deal with Baku on gas transit through Turkey to Europe, Energy Minister Taner Yildiz said, adding there had been much progress since Azerbaijan said it might explore alternative routes.
Failure to agree terms for Azerba
Turkey and Iraq have discussed the possibility of signing a memorandum of understanding to ship Iraqi gas to Europe via Turkey through the planned Nabucco pipeline, Turkish Energy Minister Taner Yildizsaid on Saturday.
Turkey and European
Turkey will stand by its commitments for the Nabucco pipeline project that will transport Caspian gas to central Europe despite alternative pipeline projects, Energy Minister Taner Yildiz has said.
Russia’s South Stream and the European Un
EU countries and Turkey on Monday signed a transit deal for the Nabucco gas pipeline, aimed at cutting Europe's energy dependence on Russia, a major political step backers say will boost the project.
Transit countries Turkey, Bulgaria,