Georgia crisis could thwart EU project to bypass Russia for natural gas

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BERLIN: The crisis in Georgia could be the final blow for the Nabucco natural gas pipeline across the Caucasus – an


“Who is going to finance the Nabucco project now, let alone supply it with the gas it needs?” said Borut Grgic, director of the Institute for Strategic Studies in Ljubljana, Slovenia. “Nabucco is all but dead.”

If so, in concrete terms it means that the EU could experience at first hand the negative impact of Russia’s invasion of Georgia. If Nabucco were to be abandoned or seriously modified in a way that would involve cooperation with the Russian state-owned giant monopoly Gazprom, then the EU’s ability to diversify its energy imports would be undermined.

IHT