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BP confirms its Nabucco pipeline project to import natural gas from Azerbaijan to Europe will...
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Friday, May 25, 2012, 8:27 AM ETBP confirms its Nabucco pipeline project to import natural gas from Azerbaijan to Europe will take on a far more limited scope and reach only Europe's border with Turkey. The decision appears to mark the end of a key strategic initiative that had political backing from the EU and U.S. to reduce Russian dominance over European gas supplies.
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From Turkey the pipeline could feed Europe only if it goes through Bulgaria or Greece.
The energy security of Europe is the issue, partially resolved by increasing Norwegian production and recent deals with Libya.