Laws_subbed_Outsourcing_book_temp.qxd 10/11/2009 12:20 Page 122
Pipeline News
Nabucco Pipeline Nears
A major gas pipeline connecting the Middle East, Central Asia
Nabucco Gas Bridge Between Asia and Europe
and Europe moved a step closer this summer following an
intergovernmental agreement signed by transit countries Turkey,
Vienna
Romania, Bulgaria, Hungary and Austria. “The completion of the
Budapest
agreement represents a significant breakthrough in the realisation of
Ireland
Bucareset
this project. The pipeline now has a stable legal basis, and can
Sofia
Istanbul
guarantee gas transit under equal and transparent conditions for all
Ankara
customers,” said Reinhard Mitschek, Managing Director of Nabucco
Gas Pipeline International. The Nabucco consortium, which includes
energy companies OMV Gas&Power, MOL, Transgaz, Bulgarian
Energy Holding, BOTAS and Germany’s RWE, will now turn to
detailed technical planning, finance-raising and social and potential feeder countries – Azerbaijan, Turkmenistan, Kazakhstan,
environmental impact assessment. Iraq, Iran and Kurdistan – only Azerbaijan can currently supply the
minimum required 15 billion m
3
a year. Turkmenistan has the
Potentially spanning 3,300km at an estimated cost of US$11 billion, world's fourth largest reserves of natural gas, but would require a
Nabucco would diversify European gas supplies away from Russia, pipeline under the Caspian Sea for which there is no agreement yet.
whose recent dispute with Ukraine highlighted Europe’s vulnerability Iraq could supply 15 billion m
3
a year by 2015, according to Iraq’s
to supply disruptions. “Nabucco is of crucial importance for Europe's Prime Minister Nouri al-Maliki, but disputes with Kurdistan, plus
energy security,“ said European Commission President José Manuel ongoing security concerns, could easily undermine that goal. Turkish
Barroso. The European Investment Bank has pledged €2 billion and Prime Minister Tayyip Erdogan is keen to include Iranian gas “when
the European Commission a further €188 million. conditions allow“, but commercial ties with Iran look distant. “We
don’t even have a map showing us which countries will be the
There remain some doubts as to whether the region is producing sources and which will be the transits,” says Ana Jelenkovic, an
enough gas to fill Nabucco’s 31 billion m
3
capacity, however. Of the analyst at consultancy Eurasia Group. n
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