Putin: “Nabucco” has little chances of success

11:56 07/09/2010 » Economy

Putin: “Nabucco” has little chances of success

Russian PM Vladimir Putin said Nabucco had little chance of success. “The main problem with Nabucco is the absence of guaranteed volumes of necessary product in this pipe as there is no source for filling the system,” he said at a meeting with Valdai Club members on Monday, September 6.

“Russia will not make any supplies there. The fields in Iran have not been developed yet. Azerbaijan has small volumes. Besides, Azerbaijan has signed a contract for gas supplies to Russia. There is Turkmenistan, but its volumes are not clear yet because gas pipeline has been built from Turkmenistan to China for 30 billion cubic metres of gas,” he said.
There are also other problems. “There is a territorial dispute between Turkmenistan and Azerbaijan over the Caspian Sea, and I think it would be hard to build the system in this situation, to put it mildly, not to say impossible,” Putin said.
“But theoretically I do not rule out that it could be possible if there is an interested company that is ready to invest billions without signing long-term supply contracts,” he added.

Source: Panorama.am

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