After securing free oil from Iraq and Lybia, EU changes position on Nabucco
BayBak, Azerbaijan | 547 days ago | Thursday, 24th November , 2011 , 20:33 [pm] | Azerbaijan
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. | France and other EU member states are planning to put more harsh pressure on Iran by adopting new sanction policies over countries oil trade. This was not possible unless there was other source to fill the needs of the EU and the US. Invasion of Iraq and Libyia created a backup root in term of fighting Iran’s importance on oil market. Changing plans about NABUCCO is also higlights new relations of Russia, Nato and WTO. Russia was against NABUCCO, and it seems hiz worries been addressed in new policies adopted by EU. |
Azeri gas will flow in significant quantities into the European Union through the route labelled the Southern Corridor, Energy Commissioner Guenther Oettinger said in an interview, but stopped short of full endorsement of the Nabucco pipeline project, Gulf Times reported.
Nabucco has long been regarded as the Commission’s dream scheme for improving security of supply and reducing dependence on gas from Russia. It has been undermined by spiralling cost estimates and delays.
Asked whether he was confident Nabucco could go ahead, Oettinger replied he had faith in the route the EU hopes can carry non-Russian gas into southern Europe.
“I’m confident of opening the Southern Corridor, but it’s primarily up to the Shah Deniz Consortium to decide to whom they want to sell their gas,†he said.
A decision on which of several rival schemes, including Nabucco, would be awarded gas from Azerbaijan’s Shah Deniz would probably be made around February, he said.
“I’m sure there will be interesting volumes of gas from the Caspian region to Europe,†Oettinger said.
Since the inception of the Nabucco project, much has changed in the global gas market, including the commercial viability of unconventional gas from shale.
“Investment in infrastructure is not so bankable as five years ago,†Oettinger said.
The Commission has already said it was receptive to talks on combining pipelines competing to bring gas from Shah Deniz.
France and other EU member states are planning to put more harsh pressure on Iran by adopting new sanction policies over countries oil trade. This was not possible unless there was other source to fill the needs of the EU and the US. Invasion of Iraq and Libyia created a backup root in term of fighting Iran’s importance on oil market. Changing plans about NABUCCO is also higlights new relations of Russia, Nato and WTO. Russia was against NABUCCO, and it seems hiz worries been addressed in new policies adopted by EU.
, Voice of a Nation[1] Print
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