EU pushes harder for Nabucco pipeline
09/03/2010BRUSSELS – The European Commission is planning to allocate nearly € 200m (US $273.2m) to support the Nabucco gas pipeline, CA-news.org reported March 9. The pipeline’s planners hope to deliver Azerbaijani and Turkmen gas to Europe and bypass Russia in doing so.
The pipeline is estimated to cost US $11.8 billion, which the pipeline consortium is expected to borrow from international institutions.