December 02, 2008

Iran may replace Turkmenistan in Nabucco gas project

Mr Alan Waddams EU's new ambassador in Azerbaijan said that Iran could replace Turkmenistan in the Western backed Nabucco pipeline project designed to pump gas from the Caspian to Europe bypassing Russia.

Mr Waddams said that EU representatives had agreed to export gas to Europe via Nabucco, but if the Turkmen side changed its mind, then Iran could step in as an alternative.

The USD 7 to USD 8 billion Nabucco pipeline, backed by the EU and the US, is expected to link energy rich Central Asia to Europe through Turkey, Bulgaria, Romania, Hungary and Austria.

Construction on the pipeline with a projected annual capacity of between 20 and 30 billion cubic meters has been tentatively scheduled to begin in 2010.

Azerbaijan, Iran, Turkmenistan and more recently, Iraq have been seen as possible suppliers for the project. Iraq is being backed by the United States.