Latest Trans-Caspian Gas Pipeline Stories
Russia's hold on the European natural gas market is being challenged by a consortium of interests intent on building a pipeline from Turkey to central Europe. Officials from six countries are meeting in Turkey to sign an agreement to construct a pipeline that would run from Turkey to Austria, crossing through Bulgaria, Romania and Hungary, CNN reported Monday. The $11 billion project called Nabucco has U.S.
Hungary is urging interested countries to speed up talks on construction of the Nabucco pipeline to carry gas from central Asia to Europe, officials said. Mihaly Bayer, Hungary's Nabucco pipeline representative, said the countries that sign an inter-government agreement scheduled for next week in Turkey, also should sign a political declaration to support the project, which is planned to reduce Europe's dependence on Russia's supply of natural gas.
Turkey has OK'd a transit agreement for the Nabucco pipeline intended to reduce European dependence on Russian gas, the European Union said. An intergovernmental pact to be signed in Ankara July 13 will expedite construction of the pipeline and bring Caspian and Middle East gas to Europe as early as 2014, E.U.
Rising shale gas production in the United States and Canada as well as potential natural gas supplies from Iraq could be pivotal in curbing Russiaâ€™s ability to organize an â€œenergy weaponâ€ against European consumers.
Text of report in English by Turkish privately-owned, mass- circulation daily Hurriyet website on 11 October The European Union said Turkey should waste no more time and negotiate seriously over the Nabucco gas pipeline while the US reiterated its support on the 12bn US dollars billion project.
By Share, Jeff Executive Profile As the world anxiously watches Russian bombs rain their death and destruction over neighboring Georgia, one bears in mind that energy pipelines are one of the key issues that is causing increased tensions between Russia, Georgia and several of its other Caspian neighbors in recent years.
Text of report by corporate-owned Russian news agency Interfax Almaty, 9 October: Kazakhstan sees no need to construct additional gas pipelines in the conditions of limited resources in the country, Deputy Energy and Mineral Resources Minister Lyazzat Kiinov has said.
Nabucco faces many difficulties, most significantly soaring construction costs and sourcing the gas. However, the EU ETS has the potential to make the project economically viable.
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