Wednesday, January 23, 2008

Gas: Iran willing to provide gas for Nabucco pipeline

Iran's Foreign Minster has suggested his country could contribute natural gas to the planned Nabucco pipeline. Local media quoted him as saying, "The European Union has stated a need to diversify sources and routes of natural gas supplies. Nabucco is one of the possible projects of cooperation between Iran and the EU in the energy sphere."

The Nabucco pipeline is a planned natural gas pipeline that will transport natural gas from Turkey to Austria, via Bulgaria, Romania, and Hungary. It will run from Erzurum in Turkey to Baumgarten an der March, a major natural gas hub in Austria. Some consider the pipeline as a diversion from the current methods of importing natural gas solely from Russia

Construction on the Nabucco pipeline is scheduled to begin in 2009, enabling the pipeline to go on stream in 2012.