Gas Row Underlines Importance Of EU's Nabucco Proj

The current dispute between Russia and Ukraine underlines the importance of the European Union-backed Nabucco gas pipeline project, since it would make Europe less dependent on Russian gas, the project's chief said Tuesday.
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Τρι, 6 Ιανουαρίου 2009 - 19:10
The current dispute between Russia and Ukraine underlines the importance of the European Union-backed Nabucco gas pipeline project, since it would make Europe less dependent on Russian gas, the project's chief said Tuesday.

"In view of current developments, diversification of sources and routes is becoming increasingly importance," said project head Reinhard Mitschek.

"That's why Nabucco is now more important than ever," he said.

Nabucco is a 3,400-kilometer pipeline between Turkey and Austria that will transport up to 31 billion cubic meters of gas each year from the Caspian Sea to western Europe.

The pipeline currently has six shareholders - OMV AG (OMV.VI) of Austria, MOL Nyrt (MOL.BU) of Hungary, Transgaz of Romania, Bulgargaz of Bulgaria, Botas of Turkey and RWE AG (RWE.XE) of Germany.

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