KEYWORDS TODAY:   UkraineDonetsk

Energy Supremo: Nabucco Pipeline Is Best European Solution

World | February 24, 2010, Wednesday // 17:51| Views: 2414 | Comments: 0
  • Send to Kindle
Bulgaria: Energy Supremo: Nabucco Pipeline Is Best European Solution Nobuo Tanaka, head of the International Energy Agency, has told an energy security conference in Budapest that the Nabucco pipeline project was best for Europe. Photo by BGNES

Construction of the western-backed Nabucco gas pipeline that bypasses Russia would be more effective in increasing Europe's energy security than the Russian South Stream project, according to Nobuo Tanaka, Executive Director of the International Energy Agency (IEA).

Tanaka addressed a European energy security summit in the Hungarian capital, Budapest, on Wednesday.

The Nabucco project would diversify gas supply routes in Europe, even though the pipeline was longer and would require a larger investment than its rival South Stream, he claimed, adding that an increase in the number of gas suppliers would contribute to European security.

Although the South Stream pipeline would bypass Ukraine, increasing security of supply for Europe, it would still deliver Russian gas, like the other pipelines in the region, Tanaka pointed out.

The Nabucco pipeline, an EU-led and US-backed project, would instead convey Middle Eastern and Caspian gas through Turkey and Bulgaria to Austria in an effort to break the current Russian monopoly over regional energy supplies. Construction is scheduled to begin by the end of 2011, with completion expected in 2014.

The principle of "the more the better" applied from the point of view of energy security, Tanaka stated. "If supply sources are expanded and the number of delivery routes grows, security improves."

"That is why Nabucco appears to be the best solution," he concluded.

World » Be a reporter: Write and send your article
Tags: Nabucco, South stream, Ukraine, Russia, energy security, Nobuo Tanaka, IEA
Expats.bg All Are Welcome! Join Now!

Leave a comment


Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria