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Nabucco pipeline gets Turkmen boost

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Nabucco pipeline gets Turkmen boost


Europe’s ambitious Nabucco gas pipeline project has received a boost, with Turkmenistan saying it is ready to offer supplies. Russia recently ended gas imports from the Central Asian state when a pipeline exploded. Moscow denied being behind the blast, but it is thought the lost business is costing Turkmenistan hundreds of millions of euros a month. To fill the gap, President Kurbanguly Berdymukhamedov said his country has plenty of gas for sale abroad, and the EU/US-backed Nabucco project is a possible client.

Nabucco is designed to bypass Russia which currently supplies about a quarter of Europe’s needs. However, Moscow’s disagreements with transit countries disrupted supplies over the winter. Uncertainty over supply and demand has hindered the eight-billion-euro Nabucco project. It also faces competition from Russia’s own South Stream pipeline, which has signed up clients in eastern Europe. But on Monday a group of Nabucco transit countries will sign a deal which may ease concerns.
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