Nabucco needs Iran and Iraq
Sunday 21 March 2010
Political hotspots Iraq and Iran will have to supply gas to the European Union if the €7.9bn Nabucco pipeline is to go ahead, the Azerbaijan Energy Minister has warned.
Azerbaijan is expected to be the major supplier to the project, vital if the EU is to be weaned off its dependency on Russia for its energy needs.
However, Natiq Aliyev said that the project's shareholders, which include Austria's OMV and Romania's Transgaz, will not hit its target to start construction next year.
Mr Aliyev argued that tensions in Iraq and Iran would have to be dampened and so they could join the supply line as Azerbaijan could not produce all the gas Nabucco requires on its own.
"In a few years, when the Iran and Iraq situation is more stable politically, we will be able to implement the Nabucco project speedily," he said.
Mr Aliyev also suggested that the State Oil Company of Azerbaijan could be listed on an international stock exchange within three-to-five years.
- 1 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 2 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
- 3 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 4 News agency criticised for describing Amal Clooney as 'actor's wife' in coverage of human rights trial
- 5 David De Gea to Real Madrid: Real finally get their man with £29m bid for Manchester United goalkeeper
Rules on 5p plastic bags likely to lead to arguments at the check-out
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Turkey duped the US, and Isis reaps rewards
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...