Azeris Pass Measures to Speed TANAP

The Nabucco gas pipeline project is "outdated" and does not have sufficient financial resources, the Azeri news agency has quoted a senior Russian energy figure.

APA reported that Valery Yazov, head of the Russian Gas Society, made the comments at a meeting Monday. Mr Yazov questioned the feasibility of Nabucco, due to the "unresolved issue of the status of the Caspian Sea".

The Nabucco pipeline is seen as an alternative or rival to Gazprom-Eni's South Stream project.

In other news from Baku, the Azerbaijani Parliament ratified two agreements connected with the Trans Anatolian Pipeline (TANAP). One is about the sale of gas to Turkey, and the other regards construction to do with the pipeline on Turkish territory. Last June the two countries signed a pact on TANAP in Istanbul. The project will cost around €7 billion, and first deliveries are timetabled for 2017.

Further reading: Shah Deniz Natural Gas: Key to the Southern Corridor