EU and NABUCCO prospects

By the end of October 2011 the EU has to finally decide whether it will implement the NABUCCO project. This project envisages the provision of Europe with gas from the Caspian Sea bypassing Russia, a move which would see Europe becoming less dependent on Russia.

The major suppliers of the NABUCCO pipeline will be Azerbaijan and Turkmenistan. The approximate cost of the project will come to euro 8 bln and its length will be 3300 km. The construction should start in 2013 and finish in 2017. However there are still uncertainties concerning the participation of certain countries in providing a sufficient amount of gas. Amid these doubts, the possible involvement of Iraq in providing gas is now being considered.