"Europe’s pipe dream closer to reality"

There is a big step forward in plans for a major gas pipeline backed by Europe, EuroNews reported.

Izvor: BBC

Monday, 13.07.2009.

10:18

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There is a big step forward in plans for a major gas pipeline backed by Europe, EuroNews reported. Transit agreements have been signed today in Ankara by the architects of what has become known as the Nabucco pipeline. "Europe’s pipe dream closer to reality" Signing up to the deal are Turkey, Bulgaria, Romania, Hungary and Austria. Germany is also part of the consortium working on the pipeline, but it does not have a transit role. The countries have agreed to a series of legally binding conditions. The 3,300 kilometer pipeline will begin in the Turkish city of Erzurum. Earlier today, the BBC said that there was still no clear idea as to what has been agreed. Turkey and the European Commission are still at loggerheads over how much gas Turkey will be able to take from the line, with Ankara claiming that it might be another six months before a final agreement is reached. More worrying still, Nabucco still has no guaranteed supply of gas. Iran, Iraq, Kazakhstan, Turkmenistan and Egypt are all considered potential suppliers in the long term. Currently though, only Azerbaijan is in a position to supply the 15 billion cubic meters a year the line needs if it is to be constructed as planned by 2014. But two weeks ago, Baku agreed to sell some of that gas to Russia, a move many understood as a warning to the Nabucco partners to sort out their differences or look elsewhere. In the same way, Monday's signing ceremony is being seen as largely an attempt to persuade Baku that the Nabucco partners can reach an agreement, on some issues at least. At the same time, Russia is planning its own new gas pipeline to Europe, the Nord Stream, which will run direct from Russia to Germany under the Baltic Sea.

"Europe’s pipe dream closer to reality"

Signing up to the deal are Turkey, Bulgaria, Romania, Hungary and Austria. Germany is also part of the consortium working on the pipeline, but it does not have a transit role.

The countries have agreed to a series of legally binding conditions. The 3,300 kilometer pipeline will begin in the Turkish city of Erzurum.

Earlier today, the BBC said that there was still no clear idea as to what has been agreed.

Turkey and the European Commission are still at loggerheads over how much gas Turkey will be able to take from the line, with Ankara claiming that it might be another six months before a final agreement is reached.

More worrying still, Nabucco still has no guaranteed supply of gas.

Iran, Iraq, Kazakhstan, Turkmenistan and Egypt are all considered potential suppliers in the long term.

Currently though, only Azerbaijan is in a position to supply the 15 billion cubic meters a year the line needs if it is to be constructed as planned by 2014.

But two weeks ago, Baku agreed to sell some of that gas to Russia, a move many understood as a warning to the Nabucco partners to sort out their differences or look elsewhere.

In the same way, Monday's signing ceremony is being seen as largely an attempt to persuade Baku that the Nabucco partners can reach an agreement, on some issues at least.

At the same time, Russia is planning its own new gas pipeline to Europe, the Nord Stream, which will run direct from Russia to Germany under the Baltic Sea.

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