ANALYSIS-Russian gas pipeline more likely than EU’s Nabucco- About: Oil and Gas News

SOFIA/ISTANBUL, Oct 5 (Reuters) - A major Kremlin-backed gas pipeline may have a better chance of supplying Europe with new gas than the much-touted EU-backed Nabucco project, designed to ease the bloc’s dependence on Russia, analysts say. Although both projects are riddled with problems and may not move off the drawing board, the main question behind long-delayed Nabucco is whether it can secure enough Caspian and Middle East supplies to fill the pipe. The 31-billion-cubic-metre capacity pipeline is a key plank in EU plans to diversify gas supplies away from Russia after a political dispute between Moscow and Kiev last year cut off exports via Ukraine. Russia supplies a quarter of EU’s gas. Azerbaijan, Kazakhstan, Turkmenistan, Iran, Egypt and even Iraq have been mentioned as possible suppliers to the 3,300 km Nabucco which will pass via Turkey and the Balkans to Austria. But so far the five signatory countries to the 4. read more

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