The agreement between Gazprom (GAZP.RS) and Turkmenistan to construct the Pri-Caspian gas pipeline, with a 30 billion cubic meter throughput a year, makes realization of the EU-backed Nabucco pipeline unlikely, says Metropol.
"The construction of this pipeline means that all Turkmen gas exported to EU will pass through Gazprom's income statement. The agreement implies that realization of the Nabucco pipeline seems highly unlikely," says Alexei Kokin.
Notes that Azerbaijan alone doesn't have enough gas to fill the Nabucco pipeline. (JGP)