Sunday, February 17, 2008

Turkey Natural Gas Pipeline Set to Go - Maybe!

Turkey and the European Union appeared ready yesterday for greater co-operation in the construction of the Nabucco natural gas pipeline aimed at enhancing Europe's energy security and reducing its dependence on Russian gas supplies.

The EU had become worried about Turkey's apparent lack of commitment to the $5bn project. But Jozias van Aartsen, EU co-ordinator for natural gas projects in southern Europe, said after meeting Turkish officials yesterday that the project was nearer to realisation than before his visit.

Agreement on a pricing mechanism, one of the main stumbling blocks in getting more Turkish involvement, should be reached in three weeks, Mr van Aartsen said.

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