Senior Russian sees no future for Nabucco pipeline

21:31, October 22, 2010      

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The Nabucco gas pipeline from Turkmenistan to Europe has no future, according to Russian deputy prime minister Igor Sechin.

Sechin, who is visiting Turkmenistan with President Dmitry Medvedev, said Friday that, based on Turkmen, European and world experts' estimations, the current situation on the gas market left no future for Nabucco.

Nabucco Gas Pipeline International company plans to start construction of the pipeline in 2012 and open it in 2015. The 3,300-km pipeline will supply Europe with gas from Turkmenistan, Azerbaijan and Iraq, bypassing Russia. The 11-billion-dollar project expects to provide 5 percent of European gas consumption by 2020.

The pipeline attempts to reduce Europe's dependence on Russian energy. The project, backed by several European Union states and the United States, is considered a rival to the Gazprom-led South Stream pipeline project.

On Friday, Medvedev held talks in Turkmenistan with his Turkmen counterpart, Gurbanguly Berdymukhammedov, on future energy cooperation between the two countries.

Source: Xinhua


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