Nabucco pipeline project has one last chance after supply deal
Azerbaijan has committed large gas volumes to Europe, providing the EU-backed Nabucco pipeline project with, perhaps, one last chance
The EU has signed a long-term gas-supply agreement with Azerbaijan, claiming a breakthrough in its campaign to reduce dependence on Russian gas. But significant political and economic obstacles must be overcome before large volumes of Caspian-basin gas flow to Europe. José Manuel Barroso, the president of the European Commission, visited Azerbaijan and Turkmenistan last month to drum up support for the EU's Southern Energy Corridor to bring Caspian and Middle East gas to Europe and enhance the region's energy-supply security. The EU began promoting development of the southern corridor after January 2009, when Russia cut off gas deliveries to Ukraine causing energy shortages to ripple across
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