Nabucco project gets European support

The proposed Nabucco natural gas pipeline project cleared a hurdle in mid-July when four European governments signed a transit agreement with Turkey. Government representatives of Austria, Bulgaria, Hungary, and Romania joined Turkish officials in Ankara, Turkey’s capital, to sign the agreement for Nabucco, which would stretch 2,000 miles from the Caspian Sea to Austria through Turkey But the project’s completion remained a distant goal, with no suppliers formally committed, according to a report in the New York Times.

The project has long been delayed, bogged down in disagreements between Turkey and Europe over terms and by maneuvers from Russia, which is pressing for a competing pipeline, South Stream. Most significantly, the pipeline has no committed suppliers, the most important element in getting the project moving. Analysts say that the agreement is just one small step forward.