Russia Tuesday shrugged off a key European Union gas pipeline deal with Turkey, branding it economically unsound and driven by overblown fears of dependence on Russian gas, Interfax news agency reported.
"Russia reacts calmly to the signing on July 13...for the gas pipeline project Nabucco with Turkey's participation," an unnamed source in the Foreign Ministry was quoted as saying. "We are of the opinion that any gas pipeline network should be based not on geopolitical considerations, but on economic realities...which is not the case for Nabucco."
Monday's accord signed between Austria, Bulgaria, Hungary, Romania and Turkey is a milestone in the much-delayed, E.U.-backed project aimed at cutting Russia's gas monopoly in Europe. About a quarter of the gas consumed in Europe is sourced from Russia.
"The realization of this project is unreasonably politicized and often used without basis to exaggerate the issue of overcoming European countries' excessive energy dependence on Russia," the diplomat added.
He said Russia's own South Stream project to pipe gas to Western Europe was by comparison "much closer to realization" and "economically grounded."
The 3,300-kilometer Nabucco conduit aims to become operational in 2014 at an estimated cost of EUR7.9 billion, but there is still lingering uncertainty over who will supply the gas. It is due to pump billions of cubic metres from the Caspian Sea to Austria through Turkey and the Balkans, bypassing Russia which has been accused of using gas as a weapon by cutting it off in disputes with its neighbors.